Seven & i becomes 1st Japan retailer to log over 10 tril. yen sales
Seven & i Holdings Co. said Thursday its sales for the year ended February rose 35.0 percent from the previous year to a record 11.8 trillion yen ($90 billion), becoming the first Japanese retailer to book more than 10 trillion yen in annual sales. Increased overseas sales after the acquisition in 2021 of U.S. convenience store chain Speedway LLC contributed to the earnings, Seven & i said. Net profit rose 33.3 percent to 280.98 billion yen, also a record high, helped by recovering demand for its convenience stores following the coronavirus pandemic. The company is still struggling with its su...