The Globe and Mail reports in its Friday edition that Japan's Seven & i Holdings laid out a growth plan on Thursday that focused on its core 7-Eleven convenience stores and avoided any mention of Couche-Tard's buyout offer. A Reuters dispatch to The Globe says that Seven & i held an investor day to release its plan to hive off underperforming businesses and expand overseas as it battles to win over critics and remain independent. Chief executive officer Ryuichi Isaka made no mention of the offer or long-standing shareholder criticism of capital allocation and other aspects of the business, saying the retailer's restructuring path would provide the "discipline to pursue growth." He added, "We're now at a stage where we can expect to further increase our corporate and shareholder value by seizing growth opportunities in the global market." Seven & i expects to roughly double sales to the equivalent of $273-billion (Canadian) come 2030 by expanding in overseas markets such as Vietnam and Australia, with plans to replicate domestic strengths in fresh food offerings to attract customers and bolster profit margins. Seven & i plans to split off its supermarket and 30 other units into a holding company.
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