Business Review

Convenience

Total Convenience sales were US$2.4 billion, an increase of 8% compared to the prior year. LFL sales grew 5% compared to the prior year. Convenience underlying operating profit was US$88 million for the year, an increase of 74% compared to the prior year.

DFI’s Caring Passionately Award Grand Champions from 7-Eleven China – Zhimei Liang (L) and Chunling Liang (R)

Sales of Goods (US$)

2.4 billion

Operating Profit (US$)

88 million

Store Network*

3,791 stores

Within Hong Kong, LFL sales were strong in the first half, as revenues were adversely impacted by the fifth COVID wave in the first half of 2022. LFL sales in the second half were broadly in line with the prior year, as sales were impacted by the rising frequency of outbound travel from Hong Kong residents, particularly during weekends. Operating profit improved strongly due to a favourable shift in mix away from cigarette sales, as well as ongoing strong cost control.

*: Including 416 associates and joint ventures stores.
†: Sales of goods.
‡: Based on operating profit before effect of adopting IFRS 16, excluding selling, general and administrative expenses and non-trading items.

7-Eleven South China reported double-digit LFL sales growth, as the business benefitted from the economy reopening. Strong execution of promotional campaigns and ongoing strong digital sales also supported revenue growth. Profit increased significantly as a result of strong LFL sales growth, favourable margin impact from product mix shift and ongoing strong cost control.

7-Eleven Singapore also reported strong LFL sales growth, as the business continued to benefit from the economy reopening and strong in-store execution. Profit almost doubled, despite labour and utility cost pressures.

7-SELECT ready-to-eat products from 7-Eleven Hong Kong