PETALING JAYA: The 7-Eleven Group registered total revenue of RM684.2 million for the first quarter ended March 31, 2024, representing a rise of RM28.2 million or 4.3% in comparison with the corresponding quarter final yr.
The comfort shops phase recorded a constructive efficiency, with revenue rising by RM28.2 million or 4.3% to RM684.2 million in comparison with the earlier yr’s corresponding quarter. The rise in revenue attributed to elements reminiscent of elevated buyer rely and improved product choices within the quarter.
Operating bills elevated by RM20.7 million or 10.2%, primarily because of higher retailer operation-related bills pushed by longer working hours and the addition of 88 internet new shops, bringing the full quantity of shops to 2,581. An enlargement in its workforce to satisfy anticipated enterprise calls for additionally contributed to this will increase.
In the quarter, the group stated in a press release in the present day, it efficiently rolled out 189 new 7-Café retailer codecs, bringing the full rely to 305 7-Café shops. It is encouraging to notice that these 7-Cafés have confirmed to be extra productive with higher recent meals gross sales participation in comparison with basic shops.
The prevailing financial panorama has been marked by important challenges, notably characterised by the escalation of geopolitical tensions and higher prices of dwelling, particularly with the latest enhance within the Sales and Services Tax in March 2024. That stated, the native economic system is predicted to be pushed primarily by resilient home spending, supported by sustained progress in employment and wage progress. Tourist arrivals and spending are anticipated to enhance additional.
In this regard, the group will stay vigilant and is devoted to implementing needed measures to navigate successfully via these headwinds and alternatives.
“Our focus for the comfort shops phase continues to be on the enlargement of our 7-Café retailer format, geared toward enhancing product choices and elevating the in-store buyer expertise,” the corporate stated.
It stated it can proceed to increase its non-public label choices because it seeks to repeatedly ship worth to the rising group of fashionable, model agnostic client, the place the main target solely on model per-se is steadily vanishing in favour of a give attention to the product itself and its attributes.
With regard to the Indonesian pharmaceutical enterprise, it stated it can proceed to collaborate intently with its three way partnership companion with an instantaneous give attention to the general strategic roadmap, together with retailer enlargement plans, product vary and pricing evaluation, advertising and marketing activation and driving a client centric operation.
