EARNINGS from Japan’s Fast Retailing and Seven & i Holdings should show how retailers are chasing growth overseas to make up for a lagging local consumer sector.
7-Eleven operator Seven & i’s operating income may disappoint on weak consumer sentiment. The report will be overshadowed by the US$38.7 billion takeover approach by Alimentation Couche-Tard, which may spark a restructuring of Seven & i’s businesses, including listing of subsidiaries or asset sales. The company is exploring the sale of part of its stake in Seven Bank, sources with knowledge of the matter said.
Uniqlo owner Fast Retailing will likely post steady growth in operating profit, mainly fuelled by its international business. Its flagship hot-weather clothing may capture robust demand during the summer season, Bloomberg Intelligence analysts Catherine Lim and Trini Tan said.
In South Korea, Samsung Electronics should shed light on the health of the technology sector and how it’s faring in the artificial intelligence (AI) space. Micron Technology’s strong results last month bode well for Samsung’s third-quarter earnings. Higher average selling prices for memory chips used in AI applications and new folding phone models bolstered its operating profit and margin. Watch for any comments on potential job cuts.
LG Energy Solution remains challenged by weak battery demand and pricing amid a slowdown in electric vehicles sales in Europe and the US. BLOOMBERG
