7-Eleven's parent company cuts full-year earnings forecast, presses ahead with restructuring

Published On Oct 10, 2024, 5:17 AM

Seven & i Holdings, the parent company of 7-Eleven, has cut its earnings forecast for the fiscal year ending February 2025, expecting net income to decrease by 44.4% from previous estimates. This decline comes after a disappointing first-half performance, where profits fell short of expectations despite higher revenues. Additionally, the company plans to restructure by creating an intermediate holding company for its supermarket and specialty store businesses as part of a response to shareholder pressure and a potential takeover bid from Canada's Alimentation Couche-Tard. Seven & i recently rejected an initial offer but is facing rising investor agitation.