SEVEN & I HOLDINGS C (OTCMKTS:SVNDY) reached the finishing point of the recent congestion zone as it closed at the end of the last trading session with a gain of 3.69%. The volume of the day at 1.5 million was considerably higher than the daily average of 135,000. The weekly volume has already reached the highest level in the last 5 years and that shows tremendous interest in the stock right now. The long term picture clearly shows a firm uptrend with the entire rise contained in a perfect channel. The price action at the upper boundary will determine the short term price action.
SEVEN & I HOLDINGS C (OTCMKTS:SVNDY) reported that in order to achieve sustainable growth, the company will be directing its business under the new concept. The company will shun the conventional chain store concept and reinforce a new store-based operating framework and products launch that highlight regional characteristics and support the Group’s Omni-Channel Strategy.
SEVEN & I HOLDINGS reported that its subsidiaries Sogo & Seibu Co., Ltd. and Ito-Yokado Co., Ltd. various measures have been implemented to enhance profitability. The boards of both subsidiaries have planned new measures that will be implemented to establish stores and het more support from customers. SEVEN & I HOLDINGS first subsidiary firm Sogo & Seibu reported that the business structure reforms that are already in process are strengthening of retailer-based product development and store operated sales areas along with rollout of the Omni-Channel plan.
SEVEN & I Holdings second subsidiary firm Ito-Yokado Co. has also started with business structure reforms which includes, organizational changes- shift from a headquarters based framework to a store-based operating framework. Other reforms underway are expansion of independent store activities to all outlets, and strengthening of product launch through tenant mix. The company is revamping existing stores and strengthening food segment through direct sales of meat and fish. Also, it is considerably reducing inventories using item-by-item management process.
The future ahead
SEVEN & I Holdings subsidiary Ito-Yokado Co. had designed several other structural reforms that it will implement in the second half of the fiscal. It will work on store policy and leverage advantage in various site locations, especially in the Tokyo metropolitan area, strengthening ties with partners. The firm will look to invigorate sales areas. As part of its strengthening product launch, it will further boost tenant mix and concentrate on opening unique stores with immense earning potential, including food-specialty stores.