TOKYO, Oct 8 — Japanese retail group Seven & i Holdings raised its profit outlook for the full year, citing signs of a recovery from the hit its grocery stores and 7-Eleven convenience store chain took from the coronavirus pandemic.
The company said it now expects operating profit of 340 billion yen (US$3.21 billion or RM13.34 billion) for the year through next February, up from an earlier forecast of 322 billion yen.
But the figure would still be down 20 per cent from a year earlier, marking the end of a decade-long growth streak, as 7-Eleven grapples with the pandemic as well as a shrinking workforce and public pressure to ease its 24-hour policy.
— Reuters
