Latest news with #operating profit
Globe and Mail
3 days ago
- Business
- Globe and Mail
Seven & i tops profit estimates after improved overseas performance
Japan's Seven & i Holdings SVNDY said on Thursday operating profit beat analysts' estimates and rose 9.7 per cent in the March to May quarter helped by its improved performance by its overseas convenience stores business. The 7-Eleven operator is under pressure to improve its finances in the face of a US$47-billion takeover bid from Canada's Alimentation Couche-Tard ATD-T. Couche-Tard cagey about the likelihood of 7-Eleven takeover Profit in the first quarter was 65.1 billion yen (US$445.19-million), compared to an estimate of 58 billion yen from six analysts polled by LSEG. The Japanese retailing giant previously announced a share buyback, is selling off non-core assets and plans to list its North American convenience store business. Profit fell at the company's domestic convenience stores business while overall net profit was boosted by the sale of store assets by retailer Ito-Yokado. In the U.S., Seven & i said gross profit margins improved due to the expansion of proprietary products and optimisation of labor costs. 'It's a tough retail environment in the U.S.,' Stanley Reynolds, president of 7-Eleven, Inc., told an earnings briefing. 'The customer in the U.S. is really looking for value, so we are leaning in with value offers,' he said. Seven & i shares closed down 1.6 per cent ahead of the earnings report and have fallen 13 per cent year-to-date. The company had spent some 156 billion yen repurchasing shares by the end of last month. The retailer maintained its earnings forecast.
Reuters
3 days ago
- Business
- Reuters
UK's PageGroup sees profit slump to $30 million in 2025
July 10 (Reuters) - British recruiter PageGroup (PAGE.L), opens new tab forecast on Thursday an annual operating profit of about 22 million pounds ($29.95 million), down from last year but in line with market view, months after withholding it due to U.S. tariff uncertainty. PageGroup's performance has been decimated in recent years as troubles keep compounding for the company, which has been plagued by substantial underperformance in some European businesses and had to cut jobs in April to survive a wider sectoral slump. It had clocked in an operating profit of 52.4 million pounds in 2024. "We saw a slight deterioration in activity levels and trading in Continental Europe, particularly in our two largest markets, France and Germany," CEO Nicholas Kirk said in a statement. However, Kirk said the company saw some improvement in activity, trading and customer confidence in Asia and the U.S. The company said its second-quarter earnings fell 10.5% to 194.8 million pounds, as hiring activity remains subdued across sectors. ($1 = 0.7346 pounds)
