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Japan-Update

Seven & i seen ringing up record operating profit

Seven-Eleven's sales keep growing, while Ito-Yokado cuts costs

Private-brand offerings have helped to underpin sales at Seven-Eleven stores.

TOKYO -- Seven & i Holdings' operating profit apparently rose 2% to around 360 billion yen ($3.25 billion) for the year ended February, as private-brand goods flourished at its convenience stores and costs were cut at superstore unit Ito-Yokado.

This figure would surpass the Japanese retailer's guidance of 353 billion yen, which itself would be a sixth consecutive record annual profit.

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