Seven & i to list Ito-Yokado supermarket business in growth drive

Seven & i Holdings Co. said Wednesday it will spin off and list its Ito-Yokado supermarket operations as early as fiscal 2027 as part of efforts to drive the struggling business's growth by leveraging external capital.The spinoff will allow Seven & i to focus its resources on its cash cow Seven-Eleven convenience store business. The Japanese retail giant, which bought the U.S. convenience store chain Speedway LLC in 2021, is considering more acquisitions in North America, it said."We have concluded that it is best (for the supermarket business) to be able to make investments for its growth …READ FULL ARTICLE