JAPAN: Lawson, FamilyMart Report Solid Q1 Growth

The Lawson and FamilyMart convenience store groups have reported a solid set of results for their respective fiscal first quarters, although profit figures were a mixed bunch.

Lawson saw its net sales grow by 6.2% to 148.9bn yen, although like-for-like sales were down 1%.  The group was helped by the addition of new stores, but was hurt by weaker average ticket spend and lower cigarette sales.  However, operating profit was down 8.8% to 17.5bn yen.

Lawson opened 63 net new domestic stores, and 57 new international stores in the quarter.

Meanwhile, rival FamilyMart saw its revenue grow by 3.1% to 102bn yen, with like-for-like sales up 1%, helped partly by its rapid expansion.  However, operating profit was down 5.9% to 10bn yen.

During the quarter, FamilyMart opened 105 net new outlets in Japan, as well as 54 new stores in China, with further additions in Vietnam and Indonesia.