Shoppers have pulled back spending at 7-Eleven convenience stores and petrol stations in the first three months of the new financial year as cost pressures continue to hit spending, accounts filed by the retailer show.
Pre-tax profits for the 12 months to June 30 rose from $36.6 million to $85.1 million, the country’s largest convenience retailer said, with sales up across all categories except cigarettes, which continue to decline.
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Carrie LaFrenz is a senior journalist covering retail/consumer goods. She previously covered healthcare/biotech. Carrie has won multiple awards for her journalism including financial journalist of the year from The National Press Club. Connect with Carrie on Twitter. Email Carrie at carrie.lafrenz@afr.com
