PETALING JAYA: 7-Eleven Malaysia Holdings Bhd
will utilise the proceeds from the disposal of its 75% equity stake in Caring Pharmacy Group Bhd to enhance and grow its convenience store business especially its 7-Cafe chain.
CGS-CIMB Research said based on its estimates, the 7-Cafe stores have daily sales that are 1.8 times higher than 7-Eleven stores. Hence, 7-Eleven Malaysia aims to open 50 new 7-Cafe stores and refurbish more than 50 existing stores in and outside the Klang Valley, according to the research house.
The completion of 7-Eleven Malaysia’s new fresh food commissary, targeted by the end of 2023, will also allow the group to further bolster its higher-margin fresh food offerings across its 7-Cafe stores from the financial year 2024 (FY24).
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