Seven & i Holdings posted better-than-expected first-quarter results for the 2026-2027 fiscal year, driven primarily by improved fuel margins in the United States and the favorable effect of the yen's depreciation. The Japanese group, owner of the 7-Eleven convenience store chain, posted operating profit of 105 billion yen (approximately €570 million) between March and May, up 61% compared to the same period the previous year.
In light of the performance of the first three months, the company has raised its full-year forecast. Seven & i now estimates operating profit of 425 billion yen (approximately 2,3 billion euros), 5% higher than the previous guidance and slightly higher than the result achieved in the last fiscal year.
The updated estimates also reflect the revised average exchange rate assumption, from 150 to 157 yen per dollar. A weakening Japanese currency increases the value of foreign earnings when converted into yen.
Despite the improved annual outlook, the group maintains a cautious approach for the second half of the year. Chief Financial Officer Tetsuya Takagi explained that profit expectations for the international convenience store business have been reduced by 24 billion yen (approximately 130 million euros) due to economic uncertainties that could impact fuel demand.
In the quarter, merchandise sales at the convenience store division increased by 3,2% to 2.420 trillion yen (about 13 billion euros), while operating revenue stood at 2.370 trillion yen.
In Japan, Seven-Eleven Japan reported 2% growth in comparable store sales, driven by both an increase in average receipts and improved store traffic. Gross merchandise margin rose 0,3 percentage points to 32%, while total store sales grew 2,4% to 1.370 trillion yen.
The company confirmed its continued investment in fresh products, modernization of its retail network, and development of digital technologies, which it considers key to sustaining long-term growth. In the United States, the 7-Eleven brand also performed well. Comparable store sales increased 1,4%, while total store revenue grew 1,2%, reaching 2.380 trillion yen.
Chairman and CEO Steve Dacus emphasized that the first quarter demonstrated progress in the group's transformation strategy. Excluding the effects of the deconsolidation of York Holdings and Seven Bank, consolidated operating profit and earnings per share more than doubled compared to last year, reaching record levels. Dacus also highlighted the strengthening of investments in Japan to enhance customer value and, in North America, the acceleration of the "North Star" plan, which aims to enhance the product offering, modernize the store network, and enhance the shopping experience.
