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Seven & i Q3 profit gains on strong convenience store food sales
January 12, 2017 / 6:22 AM / 8 months ago

Seven & i Q3 profit gains on strong convenience store food sales

TOKYO, Jan 12 (Reuters) - Seven & i Holdings Co, Japan’s second biggest retailer by sales, on Thursday said its third-quarter operating profit rose 4.4 percent as income at its convenience stores was bolstered by strong sales of sandwiches and other foods.

Operating profit for the three months ended Nov. 30 was 92.5 billion yen ($808.50 million), versus a profit of 88.6 billion yen a year earlier, calculations based on the retailer’s nine-month results show.

Three analysts expected the retailer to post an operating profit of 85.6 billion yen, Thomson Reuters data shows.

The retailer kept its operating profit forecast for the year ending Feb. 28 unchanged at a record high of 353 billion yen, lagging an average estimate of 355.2 billion yen by 16 analysts surveyed by Thomson Reuters. ($1 = 114.4100 yen) (Reporting by Tim Kelly; Editing by Himani Sarkar)

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