Seven & i (TSE: 3382) 9M19 Results: Struggling at Home, Silver Lining in Overseas Convenience Stores

Executive Summary

• Seven & i reported a 15.8% increase in net sales and a 2.9% increase in operating income for the nine months ended November 30, 2018.
• The overseas convenience store business saw an impressive performance, with operating income increasing by 15.7% year over year.
• Superstore Ito-Yokado saw a reduced operating loss of ¥200 million.
• Food supermarket York-Benimaru and department store Sogo & Seibu suffered in operating income with the latter’s operating loss widening to ¥937 million.