Seven & i Holdings (TSE: 3382) 1Q20 Results: Operating Income Grows in Both Domestic and Overseas Convenience Stores

Executive Summary

• In 1Q20, ended May 31, 2019, Seven & i reported a 1.3% year-over-year decline in net sales. However, the company’s EPS increased 21.5% in the first quarter.
• The company’s overseas convenience store business witnessed a strong performance, with operating income increasing 26.6% year over year. Domestic convenience store operations recorded operating income growth of 8.0%.
• Superstore Ito-Yokado saw operating income decline 84.4% year over year. Department-store chain Sogo & Seibu posted an operating loss of ¥371 million versus an operating profit of ¥290 million in 1Q19.
• Seven & i reiterated its total revenues and operating income guidance for FY20.