Seven & i Holdings increases profit forecast after business restructuring

Seven & i Holdings raised its profit forecast on July 9. The Japanese convenience store company now expects to earn ¥425 billion in operating profit by February 2027. That is ¥20 billion more than its previous forecast. The company also raised its sales outlook for the same period.

Seven & i has been restructuring its business. It sold off supermarkets and other stores in Japan that were not part of its core business. These changes came after a Canadian company, Alimentation Couche-Tard, tried to buy Seven & i for about ¥6.77 trillion. That takeover bid failed roughly one year ago.

Chief executive Stephen Dacus has been refocusing the company on convenience stores. The higher profit forecast suggests that this strategy is working.