Convenience store chains Lawson and FamilyMart have reported record operating profits for the year that ended in February, while Seven & I Holdings logged only modest growth.
According to their consolidated financial results, Lawson saw its core operating profit rise 7.0% from the previous year to ?112.3 billion, and FamilyMart¡¯s core operating profit jumped 17.9% to ?100.2 billion.
In contrast, Seven & I, the parent of Seven-Eleven Japan, logged only a 0.5% increase in operating profit amid decreasing customer traffic.
Lawson enjoyed brisk sales thanks to its successful campaign to supersize some food and sweets products without raising their prices. The campaign was launched to mark the 50th anniversary of its launch in Japan. The company was also buoyed by strong movie ticket sales, including for blockbuster ¡°Kokuho.¡±
Efficient product ordering using artificial intelligence also contributed to cost reductions, leading to record highs in operating revenue and net profit.
FamilyMart reported a decline in net profit, after the previous year¡¯s substantial extraordinary gain from Chinese business restructuring. Still, it performed well, with discount campaigns and strong sales of rice balls, promoted by advertisements featuring Los Angeles Dodgers superstar Shohei Ohtani.
Seven & I¡¯s revenue fell in North America on lower gasoline sales. In Japan, profits decreased due to rising raw materials and labor costs. Customer numbers dropped 4.3% in North America and 0.9% in Japan.
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