January 11, 2018 / 6:19 AM / a year ago

Seven & i Q3 profit rises, but Japan convenience stores struggle

TOKYO, Jan 11 (Reuters) - Japanese retail group Seven & i Holdings Co posted a 9.5 percent rise in quarterly profit but its convenience store business at home struggled after many years of non-stop growth.

The results raise worries for the retailer, which has long depended on the ubiquitous, 24-hour 7-Eleven convenience stores to drive profit growth as its superstores struggled.

The group raked in a profit of 101.33 billion yen for the third quarter ended November, up from 92.5 billion yen a year ago, helped by robust growth at its overseas convenience stores. (Reporting by Ritsuko Ando and Taiga Uranaka; Editing by Himani Sarkar)

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