Seven & I Holdings Co. stated Tuesday that its nine-month web revenue fell 23% as a result of weaker earnings from its home convenience-store enterprise.
The Japanese convenience-store operator stated web revenue fell to 130.99 billion yen ($1.26 billion) for the nine-month interval ended Nov. 30 from Y169.97 billion a yr earlier.
Third-quarter web revenue was Y58.47 billion, given web revenue of Y72.52 billion within the previous six-month interval, in response to a Wall Road Journal calculation. That beat the estimate of Y47.14 billion from a FactSet ballot of analysts.
9-month income declined 14% to Y4.277 trillion.
Third-quarter income was Y1.488 trillion, given income of Y2.788 trillion in its first half.
9-month working revenue rose 4.3% for its worldwide convenience-store enterprise however fell 8.9% for its home convenience-store enterprise regardless of some restoration from the Covid-19 pandemic, the corporate stated.
Seven & I Holdings lower its income projection however boosted its web revenue forecast for its fiscal yr ending Feb. 28. It expects income to fall 14% to Y5.718 trillion, worse than the earlier view of a 13% decline, whereas it expects web revenue to drop 34% to Y144.50 billion, in contrast with the earlier view of a 36.5% lower.
Write to Kosaku Narioka at email@example.com