Three major Japanese convenience store operators posted growth in their group operating revenues and profits in the March-May first quarter of the current business year, according to their earnings reports.
Retail giant Seven & I Holdings, the operator of industry leader Seven-Eleven Japan, saw its mainstay overseas convenience store operations recover thanks to labor and other cost cuts.
FamilyMart's operating profit grew 17.9% from a year before to ¥27.8 billion, as advertisements featuring Los Angeles Dodgers star Shohei Ohtani helped attract more customers and boost sales of onigiri rice balls.
FamilyMart also attracted budget-minded consumers thanks to its discount sales of food items such as eggs and milk. As a result, the company's net profit jumped 36.7% to a record ¥21.1 billion.
In its earnings report released Friday, Lawson said the average daily sales per outlet hit a record high of ¥584,000, as an efficient product ordering system using artificial intelligence contributed to higher sales. New bread products also captured demand mainly from young customers.
But Lawson's net profit fell 2.8% to ¥16.4 billion after booking appraisal gains on investment securities a year before.
Seven & I saw positive effects from cost cuts and an expansion in lineups of private-label products in North America. Its net profit rose by about 2.3-fold to ¥49 billion, also aided by gains from the sale of store assets held by its Ito-Yokado general merchandise store unit. But the company suffered a 0.7% drop in the number of customers for its domestic operations.
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.