KYODO, Japan - Convenience stores in Japan enjoyed brisk sales in the business year ending February 2012, a positive sign in the wake of last year€™s devastating earthquake.
According to earnings reports released last week, Seven-Eleven Japan Co. saw an 8.3% rise in operating profit to 183.1 billion yen, while Lawson Inc. posted a 12.1% jump to 56.2 billion yen and FamilyMart Co. a 13.5% jump to 38.2 billion yen. Circle K Sunkus Co.'s operating profit increased 16.8% to 21.3 billion yen.
Industry analysts credit the country€™s c-store growth with the industry€™s ability to meet the needs of female and elderly customers who scrambled to buy fresh food and other items after the quake, notes the newspaper.
According to the Japan Franchise Association, convenience store sales remained flat in both 2009 and 2010, but total sales jumped 8.3% in 2011 from the previous year due to special demand created in the aftermath of the earthquake.