Northern, WI 04/05/2013 (usastockreport) – The 7-Eleven Brand is a well known one and Seven & i Holdings Co., Ltd (TYO:3382) (current: 3395 JPY, Up by 9.71%) its owner is all set to improve company results in the current fiscal year. It is adding new stores and has projected an increased profit of 23 percent. The Tokyo-based retailer said that in the year ending in February 2014 the company’s net income may rise to $1.8 billion (170 billion yen). This was higher than the average analyst forecast of 168 million yen. In the current fiscal year, the company is planning on opening up a whopping 1,500 new stores in the domestic market alone.
Changing shopping preferences
Customers have been steadily gravitating away from fast-food outlets and grocery stores and relying in convenience stores such as the 7-Eleven ones. People have started preferring these stores for meals and this expansion is a timely one. The general feeling in the market is that the operating profit of Japan’s biggest convenience-store chain will jump to 34 billion yen which is a projected rise of 15 percent. Seven & i Holdings Co., Ltd (TYO:3382) has its 7-Eleven presence n 16 countries and is a chain that a large number of customers swear by.
The key factor about these stores is the fact that most of them are open round the clock and thus provide its customers with true convenience. They stock a large array of products including immediately consumable foods and even prepaid SIM cards as well. North America alone has over 10,000 7- Eleven stores.