7-Eleven revenue rises to RM548 million

7-Eleven revenue rises to RM548 million

The convenience store chain plans to open 200 new outlets every year and to provide parcel locker services.

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KUALA LUMPUR:
New store openings, improved merchandise mix and consumer promotion activities have driven up the group revenue of 7-Eleven in Malaysia by 4.9% to RM547.8 million in the third quarter.

The average spend per customer increased by 4% during the third quarter, compared with the same period last year, according to a report in retailanalysis.

It quoted CEO Gary Brown as saying the company planned to open 200 new stores annually over the next 10 years. It now has a network of 2,057 stores.

Asia’s largest convenience store will start offering parcel locker services in some of its outlets to provide convenience to shoppers who shop online, according to the report.

Brown was quoted as saying this was to make shopping as convenient as possible.

It is also part of the chain’s evolution in the larger retail space that is not confined to bricks and mortar.

It had earlier been reported that in 2015, 7-Eleven Malaysia opened 199 new stores nationwide.

Brown had said then that the company would open more outlets in the Klang Valley, the east coast, Penang, Johor and Melaka.

The company has also invested in upgrading its information technology system.

As at Dec 31, 2015, the group had total cash reserves of RM126 million.

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