Impressive Financial Results: 9 Listed SM/GMS Companies Thrive in FY2023 1H. Strong performance across the board fuels success. Is this the end of deflation?
In H1 2023, Food Supermarkets (SM) and General Merchandise Supermarkets (GMS) reported rising revenue and profits, overcoming challenges from recent inflation. GMS demonstrated a noteworthy recovery after facing a substantial downturn during the pandemic.
Life Corporation, a leading industry player in Osaka, reported a substantial growth in the first-half consolidated financial results. Operating revenue increased by 6.0% to 4.01 trillion yen, and operating profit surged by 39.2% compared to the same period last year.The full-year performance remains unchanged since the initial announcement, with projected operating revenue expected to reach the significant milestone of 801 billion yen. United Supermarket Holdings, the parent company of Maruetsu, Maxvalu Kanto, and Kasumi, reported a decrease in revenue and profit for the first half of the fiscal year. Operating revenue decreased by 0.1% to 352.6 billion yen, while operating profit decreased by 15.5% to 1.8 billion yen.
Arks achieved an increase in both sales revenue and operating profit for the same period. Sales revenue increased by 3.9% to 292.2 billion yen, and operating profit increased by 7.1% to 7.9 billion yen. This growth can be attributed to the easing of movement restrictions due to the containment of the COVID-19 pandemic, leading to an increase in customer visits.
Maxvalu Tokai experienced significant growth in both operating revenue and profit, with operating revenue increasing by 4.6% to 181.5 billion yen and operating profit rising by 26.5% to 5.7 billion yen.
Fuji reported a positive performance for the first half, with operating revenue increasing by 3.3% to 398.8 billion yen and operating profit increasing by 18.5% to 6 billion yen.
Izumi achieved growth in operating revenue, which increased by 4.1% to 233.3 billion yen, although operating profit experienced a slight decrease of 1.1% to 15.5 billion yen.
Heiwado saw significant growth in both operating revenue and profit, with operating revenue amounting to 207.9 billion yen, a 2.3% increase, and operating profit reaching 6.3 billion yen, representing a growth of 32.3%.
Aeon Kyushu achieved record-high profits, with operating revenue increasing by 6.8% to 251.9 billion yen and operating profit increasing by 82.4% to 5.6 billion yen.
Aeon Hokkaido set a new record for sales revenue, which increased by 4.2% to 161.8 billion yen, while operating profit increased significantly by 14.5% to 3.6 billion yen.