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Seven & i posts 4.7% rise in 9-month profit for FY'19

Japanese retailer Seven & i Holdings Co. Ltd. on Jan. 10 reported that profit for the first nine months of fiscal 2019 rose on strong sales at its overseas convenience stores.

For the nine months ended Nov. 30, 2018, net income attributable to the owners of the parent climbed 4.7% to ¥156.27 billion from ¥149.26 billion in the year-ago period.

Diluted EPS came in at ¥176.53, up from ¥168.62 a year prior.

Revenue during the period grew 13.2% year over year to ¥5.072 trillion from ¥4.480 trillion, largely driven by Seven & i's overseas convenience store operations. That segment, which includes U.S.-based 7-Eleven Inc., saw nine-month revenue surge 44.1% to ¥2.123 trillion. Meanwhile, the company's convenience stores in Japan recorded a 2.9% increase in revenue to ¥725.24 billion.

Among Seven & i's other business segments, nine-month revenue from department store operations such as Sogo & Seibu fell 11% year over year to ¥426.42 billion, while for specialty store operations it dropped 13.7% to ¥267.08 billion. Revenue for superstore operations including the Ito-Yokado chain inched up 0.5% to ¥1.406 trillion, while revenue from financial services rose 6.7% to ¥162.77 billion.

In addition, the company maintained its outlook for the full fiscal year ending Feb. 28, which forecasts attributable net income of ¥210.0 billion and EPS of ¥237.40. The current S&P Global Market Intelligence consensus estimates for full-year fiscal 2019 are for GAAP net income of ¥212.02 billion and GAAP EPS of ¥242.70.

Seven & i also anticipates an annual dividend payout of ¥95 per share.

As of Jan. 9, US$1 was equivalent to ¥108.27.