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Tag: 7-eleven malaysia

  • 7-Eleven in talks with a ‘few parties’ on food deal

    7-Eleven in talks with a ‘few parties’ on food deal

    7-Eleven Malaysia Holdings Bhd is in talks with a few parties on food chain supply after its memorandum of undestanding (MoU) with Brahim’s Holdings Bhd’s subsidiary lapsed after close to two years.

    Last week, 7-Eleven said in a stock exchange filing that the MoU with Brahim’s “has lapsed and accordingly ceased to have any effect”.

    “We’re looking to work with many others. We’re talking to some (a few parties), but it’s not finalised yet,” 7-Eleven Malaysia majority shareholder and Berjaya Corp founder and executive chairman Tan Sri Vincent Tan told a press conference after launching mobile wallet app One2pay today.

    He added that once the company has finalised the decision, it will make an announcement, estimated in the next two to three months.

    Meanwhile, Tan said the group is projecting a 3%-5% increase in sales for the retail businesses under Berjaya Group, on the back of the appreciation of the ringgit and positive signs such as the growing economy and foreign investments in the country.

    He said while retail associations and retailers have lamented the soft retail market, partly due to competition from e-commerce, the situation has been better because the ringgit has strengthened, which augurs well for the retail industry.

    “The retail trade in Malaysia is still okay and is not as bad as painted by some. For our group, we’re optimistic that the retail trade will get better,” said Tan.

    He added that the group witnessed a dip in sales when the Goods and Services Tax (GST) was implemented but now it has stabilised and sales are going up.

    “People have accepted GST. Consumers are back and the sales are up.”

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  • Robust profit for 7-Eleven Malaysia

    Robust profit for 7-Eleven Malaysia

    Despite a sluggish retail market, 7-Eleven Malaysia had robust after tax profit, growing 40.3 per cent, in its second quarter compared with the same period last year.

    Gross profit margin continued to improve, and the average customer spend edged up 4 per cent.

    A milestone was the opening of the 2000th 7-Eleven store in Malaysia.

    CEO Gary Brown says the net profit growth was achieved in a tough market in which the introduction of GST on April 1 last year dampened consumer FMCG spending.

    “We remain confident that continuous store expansion, refurbishment, promotional activity, improved merchandise mix and expanded in-store services will continue to deliver positive results despite the challenging headwinds.”

    Revenue for the second quarter, ended June 3, grew by 4.8 per cent to RM505.7 million (US$125.7 million). This was driven by store expansion, improved merchandise mix and promotional activity.

    Gross profit was up 6.8 per cent to RM156.7 million, mainly because of the revenue growth and gross profit margin expansion of 0.6 per cent.

    Profit before tax of RM21 million surged by 38.1 per cent, driven mainly by the revenue growth, gross profit margin expansion, other income growth and cost control.

    For the six months ended June 30, the group’s revenue grew 4.5 per cent to RM1.03 billion, driven by expansion (at the period end, the group had 2001 stores). Gross profit improved by RM18.9 million, or 6.3 per cent, thanks to the revenue growth plus gross profit margin edging up 0.5 per cent.

    Profit before tax was RM43.3 million, up 22 per cent.

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  • 7-Eleven Malaysia strikes upmarket

    7-Eleven Malaysia strikes upmarket

    Listed retailer 7-Eleven Malaysia says it is going to open 200 new shops across the nation this yr – and refurbish 200 extra. A 3rd of these might be within the Klang Valley, the guts of larger Kuala Lumpur.

    The enlargement and rejuvenation, estimated to value as much as RM90 million (US$24 million) is a part of a transfer upmarket because it seeks to distinguish the corporate from rival comfort retailer codecs.

    CEO Gary Brown says the corporate needs to create a extra inviting, heat surroundings in-store to draw extra clients.

    Newer shops opened in Malaysia function espresso, meals to organize onsite, tables and chairs, vibrant fitouts and a extra spacious surroundings.

    “We now have additionally included extra recent meals, use light-emitting diode lighting at our shops that are energy-saving in addition to organise on-going strategic promotions,” he informed a press convention after the corporate’s annual assembly this week.

    7-Eleven Malaysia has about 80 per cent of the Malaysian comfort retailer market, however is dealing with growing competitors from new native manufacturers.

    Its in depth retailer community positions itself as a possible supply service level for on-line retailers and courier companies. Brown says talks are underway to determine such ventures as one other supply of revenue for the enterprise – and as a drawcard for patrons who may purchase merchandise when accumulating or making deliveries.

    “As soon as concluded, the pilot undertaking is predicted to function by the fourth quarter of this yr at chosen shops,” he stated, with out disclosing additional particulars.

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