Korea Seven, the operator of the convenience store Seven-Eleven, announced on the 14th that its second-quarter performance was reported at sales of 1.2503 trillion won and an operating loss of 8.7 billion won. Despite a 9.4% drop in sales compared to the same period last year, the loss amount also decreased by 21.6% (2.4 billion won).
Korea Seven noted, "External factors such as the recession in consumer spending and adverse weather conditions negatively impacted the convenience store industry, but the overall business restructuring policies, including the elimination of inefficient stores that started last year, have been effective in reducing the operating loss."
Korea Seven has expanded its operations by acquiring the Japanese brand convenience store 'Lawson' (over 250 stores) in 2000, the domestic brand 'Buy the Way' (over 1,200 stores) in 2010, and the Japanese brand convenience store 'Ministop' (2,600 stores) in 2022.
Since last year, restructuring underperforming stores and focusing on high-revenue prime locations has resulted in a decrease in sales, but revenue is improving. The total number of Seven-Eleven stores nationwide decreased from 13,130 in 2023 to 12,152 last year, a reduction of 978 stores.
A representative of Korea Seven said, "We are solidifying a robust management system that increases sales alongside attracting more franchisees through business restructuring and differentiation strategies" and added, "Through continuous innovation activities, we will achieve a clear improvement in performance compared to last year."