Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

Japanese Retail Group Seven & I Surge More Than 5% Following Job Cut Announcement

Published 10/10/2019, 11:56 PM
Updated 10/10/2019, 11:57 PM
© Reuters.

Investing.com - Japan-listed Seven & i Holdings Co., Ltd. (T:3382) traded higher on Friday in Asia after the company announced that it will close nearly 1,000 7-Eleven convenience stores and cut around 3,000 jobs over the next few years.

Seven & I reiterated its forecast of a rise in annual operating profit to 420 billion yen ($3.89 billion), according to a company statement.

Shares of the company traded as much as 5.9% earlier in the day following the release of the filing.

However, there were some concerns on Seven & I’s margin going forward, as the company said it is lowering franchise fees at its convenience stores and offer owners more assistance to keep them open 24 hours.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.