Uniqlo, 7-Eleven Face hampers sales despite higher consumer spending

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(Bloomberg) — Uniqlo parent Fast Retailing Co. and Seven & i Holdings are among the many first to kick off the earnings season in Asia.

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Fast Retailing could have seen weakening operating profit growth within the November-ending quarter as warmer temperatures in the autumn and winter period dragged down sales, despite the fact that consumer spending in Japan looked promising.

Seven&i, the operator of the 7-Eleven chain, may disappoint investors with a decline in operating profit for the third quarter in a row. According to Macquarie analysts, that is despite a rise in customer traffic attributable to national campaigns and a recovery in same-store sales globally.

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The founding family of the Japanese convenience store giant is attempting to fend off a takeover bid from Canadian company Alimentation Couche-Tard Inc. Seven & i unveiled a plan in October to divest underperforming businesses and concentrate on its convenience store operations.

In South Korea, Samsung Electronics Co.’s operating profit is projected to be will grow due to the chip segment, where profit is prone to have tripled attributable to strong demand for high-bandwidth memory utilized in the sphere of artificial intelligence.

Indian software services leader Tata Consultancy Services appears to have seen earnings growth speed up to its highest level in six quarters. Comments on the 2025 budgets will likely be closely watched as some analysts consider U.S. President-elect Donald Trump’s promised corporate tax cuts should allow for more spending on technology, contrary to a different view that “America First” policies ” will discourage outsourcing projects.

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Wednesday: Samsung’s fourth-quarter operating profit (005930 KS) likely rose on artificial intelligence-related demand for memory chips. According to Bloomberg Intelligence, Samsung’s average DRAM sales prices could have increased barely, while NAND sales prices could have eroded. The depreciation of the Korean won may support component sales, buffering margin deterioration, but growth in smartphones and TVs could also be limited attributable to rising component costs, HSBC said.

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Thursday: Seven & i (3,382 JP) could report a double-digit decline in third-quarter operating profit as growth in its supermarket business was offset by falling profits in other segments, in response to the consensus.

  • The Fast Retailing segment (JP9,983) is forecast to slow in operating profit growth as warmer temperatures lowered winter clothing sales in October. Higher store rents may limit margin expansion until 2025, BI analysts wrote within the report. Prospects in mainland China, which generates nearly 20% of revenue, also dimmed after CEO Tadashi Yanai reiterated in November that the corporate doesn’t source cotton from Xinjiang, prompting calls to boycott Uniqlo products on Chinese social media.
  • Tata Consultancy Services (TCS IN) could see earnings growth speed up to its highest level in six quarters. TCS has been hiring more staff over the past two quarters in anticipation of a rebound in technology spending from its overseas clients. The depreciation of the Indian rupee may translate into higher revenues.

Friday: Yaskawa’s third-quarter operating income (6,506 JP) likely turned positive for the primary time in six quarters due to a recovery within the robotics industry. Macquarie said orders are expected to extend by 10%. According to SMBC Nikko, analysts are fascinated about Yaskawa continuing to shift resources to the Americas to extend market share, countering a slow recovery in demand in its important market of China.

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