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7-eleven parent wants US stores to sell more fresh and fast food "common in Japan" | retail



7-Eleven gets some kudos from their Japanese parent company and not too subtle encouragement to increase their efforts to sell more fresh and fast food.

Seven & I Holdings Co. Ltd. said Thursday in a recording reviewing the results that its Irving-based 7-Eleven US operations reported the highest operating profit in its history and showed a 3.4% comparable sales increase in the first quarter. And while fresh food and the company's 7-Select branded products drove the improved results, the Japanese parent sees more potential.

"The development and improvement of fast food is important and something that we will do ahead," said Seven & I in its first quarterly report. "We also believe that the change in public perceptions about 7-Eleven in the US is important. To change the public perception when it comes to buying food products at 7-Eleven, it is as usual in Japan that we strengthen store cleanliness and improve customer service. "

The parent company also said it plans to continue to store renovations in the US

For 7-Eleven US stores, sales impulse continued in the spring, with the same store increasing 5.2% in April and 2.8% in May, the company reported. The 7-Eleven heads of Irving did not respond to a request for more information.

Its 7-Rewards loyalty program and the introduction of 7-Eleven private branded products to Sunoco stores also increased profit margins. 7-Eleven completed 3.3 billion purchases of 1

,030 convenience stores in 17 states from Dallas-based Sunoco in the first quarter of 2018.

In the deal, 7-Eleven also ended up with the Laredo Taco Co. brand. , and it tests it in its lab business that opened in March in Oak Cliff.

This store also tests a scanning and payment system that customers use with their smartphones. Seven and I said on the recorded revenue that it is part of the retailer's "staff-saving efforts" and "designed to increase profitability."

7-Eleven's US $ 161 million operating profit was up $ 31 million from a year ago, Seven & I said, adding that the US business enabled the Tokyo-based reseller to send out profits that exceeded its guidance during the three months ending March.

Seven & I, which, in addition to the convenience stores, also operates super-centers and specialty stores in Japan, reported a 21.5% profit increase to $ 482 million for the quarter. Total revenue decreased by 0.2% to $ 14.76 billion.

Twitter: @MariaHalkias


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