Seven & I Hldgs Co Ltd (SVNDF) Q4 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

I'm Steve Dacus. Good afternoon to all of you and thank you all for taking the time to join us today. As I've been nominated by the board as our next CEO, I thought I would take this opportunity to talk a bit about my priorities and the path forward for the company. You know, I've had the good fortune to work for some great retailers around the world, including in Japan and the US. These are companies that are both iconic and dominant in their space, and they're continuing to grow far faster than their competitors. I've learned a few things that have helped shape my thinking about how to win in retail and how to increase value for both customers and shareholders. And I wanted to share my thoughts with you today, as this will inform how I approach my new role. So first, allow me to share my thoughts regarding where we are today. 7-Eleven is an iconic brand and is the leading convenience brand in both North America and Japan. We got here in part because our team are great merchants and innovators. Our team are humble and they're focused on delighting our customers. That customer focus is directly responsible for our culture of innovation. The proof is in the data. Our ASPD, average per store day merchandise sales, are between 20% and 30% higher than our key competitors in both Japan and North America. Our customers are responding to the innovation our merchants and operators are bringing to our stores. I believe this is our biggest competitive advantage and it's a really important one. I believe another key source of our strength is our franchisee network, as well as the systems and organization we have in place to support them. We would not be the iconic brand we are today without the incredible work that our franchisees do each and every day to serve our customers. T...