Japanese retail giant Seven & I Holdings could close around 10 per cent of the supermarkets its subsidiary Ito-Yokado operates, local media has reported.
According to a report in the Daily Yomiuri, Seven & I could close 15-20 unprofitable Ito-Yakado stores over the next three years.
The chain, which runs 173 supermarkets, saw operating profits fall by 52.7 per cent in the year ending May 2012, the newspaper reported.
Seven & I would likely shift investment into its large-scale Ario shopping malls and small-scale food-centred stores.
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