Uniqlo owner plans price hikes after higher tariffs https://t.co/lhrJJkyemV
Seven & i tops profit estimates after improved overseas performance https://t.co/SUuKyKUQ7b
WATCH: Japan's Seven & i Holdings said operating profit rose 9.7%% in the March to May quarter, beating analyst estimates, boosted by stronger performance at its overseas convenience stores https://t.co/rwf5hgNLW6 https://t.co/Xx4aEyO02d
Fast Retailing Co., the parent company of Uniqlo, reported third-quarter operating income of 146.74 billion yen, slightly below the estimated 150.3 billion yen, as weaker sales in China impacted its performance. Despite the earnings miss, the company announced plans to implement price hikes in response to higher tariffs. Meanwhile, Seven & i Holdings, owner of 7-Eleven, reported a more than doubling of its first-quarter net profit to $335 million, surpassing estimates. The increase was driven by strong overseas convenience store earnings and asset sales, with operating profit from its international 7-Eleven business rising 94%. Seven & i's operating profit for the March to May quarter increased 9.7%, boosted by improved performance at its overseas convenience stores. However, its domestic convenience store business saw a decline in revenue. In contrast, Matsuya's operating profit for the same period halved due to a slowdown in high-spending inbound tourism. Overall, Seven & i maintained its full-year earnings forecast despite mixed results across its segments.