Maybank IB raises earnings forecast for 7-Eleven Malaysia

KUALA LUMPUR: Starting its financial year with a solid first quarter, 7-Eleven Malaysia Holdings Bhd (SEM) is expected to ramp up its sales recovery to outpace its peers post-movement control order (MCO), says Maybank Investment Bank research.

While acknowledging that the brunt of the MCO sales impact will occur in 2Q, the research house said the retail chain had only about 3% of its stores closed during the MCO period, enabling it to benefit from higher tobacco and packaged beverage sales.