Japan news

Japanese convenience retailer FamilyMart reports net sales growth 8.7% to JPY 1.7tn for its non-consolidated stores network and forecasts double digit growth in the year ahead. Network expansion fuelling growth A continuous program of store openings is fuelling FamilyMart's growth: in Japan same store sales declined 0.4% last year, but sales were boosted by the addition of 1,066 net st...

Seven & I Holdings announced double digit growth in revenue from operations and operating income, driven by a strong performance of the convenience and financial services divisions. However, the company forecasts more modest growth for the current financial year. In the year ending 28th February 2014 revenue from operations grew 12.8% to JPY 9.6tn and operating income rose 14.6% to JPY 339bn. ...

FamilyMart MD Massaki Kosaka announces 1,500 new store openings in Japan and 1,000 overseas, the Bangkok Post reports. Pan-Asian expansion plans in 2014 The Japanese retailer has allocated more than JPY 90bn (USD 870m) to fund new store openings and store improvements in the year ahead. Key markets will include Thailand, with plans for 300 new stores, China, with plans for 200-300 new sto...

The latest expansion strategies in Japan and Taiwan from this international convenience retailer.  Ahead of store opening target in Taiwan President Chain Store Corp., owner of the 7-Eleven franchise in Taiwan and the market's leading convenience player is set to reach its 5,000 store target in 2014, one year ahead of plan. PCSC's focus is firmly on driving profitability. Investment ...

Japanese convenience retailer Lawson's CEO Takeshi Niinami is to become the new chairman, as the retailer promotes from within to fill the position. Current COO to take the reigns After twelve years in the role, Lawson's CEO Takeshi Niinami will step into the role as Chairman, whilst Lawson's COO  Genichi Tamatsuka will assume the role of CEO from May 1, the Japan Times reports. Tam...

Japanese retailer AEON unveils a three year pan-Asian expansion plan set to cost around USD 3.8bn. Heavy investment in China and Malaysia Outlining its three year business plan to 2017, AEON reaffirmed its plans to accelerate expansion outside its domestic market. The investment planned for China is nearly double the amount over the previous three year period, The Wall Street Journal ...

Famed for their extensive convenience store networks, leading Japanese players are developing new  discount and urban supermarket formats to fill niches in the market.  Retailers cautiously expanding their discount networks Seven & I, AEON and Daiei are amongst the retailers planning to add to their existing discount store networks in 2014. Typically located in suburban areas, smaller stores...

Costco’s second quarter sales increased by 5.8% to $25.8bn, with comparable store sales (ex-fuel and currency impacts) up 5%. Net income attributable to Costco fell by 15.4% to $463m. Profitability impacted by a range of factors The key standout within Costco’s results is the decline in net income. A number of factors impacted the retailer’s profitability during the quarter including weak...

Leading retailer AEON is aiming to be the first major Japanese retailer to open in Myanmar. Foreign investment law has eased Myanmar’s foreign investment law has recently been overhauled, now allowing foreign retailers to invest in large-scale retailing business. Xinhua News Agency, reported that a representative office is to be set up in March, in anticipation of opening a shopping mall in Y...

Walmart's full year results, for the year to January 31, 2014, revealed consolidated net sales grew by 1.6% to $473.1bn. Consolidated net income attributable to Walmart fell by 5.7% to $16.0bn. The results in summary Given that Walmart had issued a trading update at the end of January there were no real surprises in these results, beyond the rapid expansion announced in small ...