Seven & i to list supermarket unit Ito-Yokado, Kyodo reports [Yahoo! Finance]
SEVEN & I HLDGS UNSP/ADR (SVNDY)
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Source: Yahoo! Finance
The retail conglomerate aims to focus on its mainstay 7-Eleven convenience store operation by having the supermarket business listed, Kyodo said. Seven & i will likely announce its plan to list Ito-Yokado, a major general merchandise store chain, on Wednesday, when it is set to announce its financial results, Kyodo said. Asked about the Kyodo report, a company spokesperson said nothing had been decided at this point. Ito-Yokado, which is struggling to compete with specialty outlets and discount stores, announced in February that it will withdraw from Japan's major northern island of Hokkaido and some other regions. (Reporting by Kiyoshi Takenaka, Chang-Ran Kim, Mariko Katsumura; editing by Jason Neely, Kirsten Donovan)
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News
- ValueAct's reputation gamble in Japan pays off [Reuters]Reuters
- Japan's 7-Eleven convenience chain targets aggressive global growth [Reuters]Reuters
- Japan's 7-Eleven convenience chain targets aggressive global growth [Yahoo! Finance]Yahoo! Finance
- ValueAct Announces Support for the Substantial Changes in Strategy and Board Leadership Announced by Seven & i [Yahoo! Finance]Yahoo! Finance
- Japan's Seven & i says it is considering sale of superstore operations [Reuters]Reuters