LWSOF - Seven & i Holdings: Difficult Market Economics To Navigate
- Seven & i Holdings derives its core earnings from its market-leading domestic convenience store operation.
- A combination of risk factors makes the outlook for free cash generation problematic - regulatory pressures increasing staff costs, ESG-related investment, and reducing royalties charged to franchisees.
- Risks are on the downside despite an estimate of the shares trading on a free cash flow yield of 4.9%. We are sellers of the shares.
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Seven & i Holdings: Difficult Market Economics To Navigate