Seven & I Drops on Profit Forecast Falling Short of Estimates

Seven & i Holdings Co. dropped the most in more than two years after its full-year forecast missed analyst estimates, while saying that it will consider strategic options following a push by activist fund ValueAct Capital Management LP’s to abandon its conglomerate structure.

The stock fell as much as 7.5% in Tokyo trading Friday, the largest intraday decline since August 2020. The benchmark Topix Index rose less than 1%.

The retailer issued a forecast for operating profit of ¥513 billion ($3.9 billion) for the fiscal year to February 2024, short of the ¥526 billion yen average projected by analysts. ...