Japanese convenience retailer Lawson said today (3 July) that its first-quarter sales performance had beaten expectations, leading to a 13% jump in profits.
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The company booked a 4.4% rise in revenue to JPY76.8bn (US$723.4m) for the three months to 31 May. Operating profit reached JPY12bn, a rise of 12.6%.
President and CEO Takeshi Niinami said better “operational execution” and a rise in like-for-like sales had boosted earnings. Same-store sales were up 2.7%.
Looking ahead to the next three months, Niinami said Lawson had earmarked investment to support its franchisees combat rising raw material costs and “cooling” consumer sentiment.
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By GlobalData
