The retailer raised its full-year net profit forecast to ¥278 billion after overseas fuel earnings surged in the first quarter.
Seven & i Holdings revised its full-year profit forecast upward after reporting a 24% year-over-year increase in net profit to ¥60.60 billion for the quarter ended May 31. The gain was driven by a surge in fuel margins at its North American convenience stores, where operating profit jumped to ¥65.59 billion from ¥8.69 billion a year earlier.
Revenue for the quarter declined to ¥2.38 trillion from ¥2.78 trillion, partly due to the deconsolidation of subsidiaries like Seven Bank. The domestic convenience store segment saw a 4.2% drop in operating profit to ¥52.24 billion. The company now expects ¥10.43 trillion in revenue and ¥425 billion in operating income for the fiscal year ending February 2027.
The upward revision reflects stronger-than-expected fuel profits in North America and a favorable yen exchange rate. U.S. same-store merchandise sales also rose on a dollar basis compared to the prior-year period.