Japanese convenience store chain Lawson has posted a full-year net loss as the retailer undergoes a restructuring programme to combat a consumer slump.
Go deeper with GlobalData
Lawson, which is second in the Japanese domestic convenience store industry by market share, posted consolidated net profit for the year to 28 February of ¥8.86bn (US$73.4m), down 45% compared to the previous year. The retailer attributed the lower net profit to a ¥19.5bn special loss related to store closures and early retirement costs.
The company’s operating revenues were ¥250.3bn, down 2.3% and roughly in line with analysts’ forecasts, reported Reuters.
Lawson forecasted a rise of 94% in group profit for the current financial year to ¥17.20bn, thanks to its cost-cutting measures, which included closing loss-making stores.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
