News

7-Eleven announces second-quarter numbers

July 24, 2002

DALLAS -- Convenience store retailer 7-Eleven Inc. (NYSE:SE), which plans to expand its program of Vcom financial services kiosks to 1,000 stores later this year (See story: 7-Eleven commits to 1,000 more Vcom kiosks), announced slightly improved earnings for the second quarter of fiscal year 2002 on July 25.

The Dallas-based company reported net earnings of $33.4 million on total revenue of $2.64 billion for the second quarter, which ended June 30. Net earnings increased 1.8 percent over the second quarter, 2001, earnings of $32.8 million.

For the six-month period ending June 30, 7-Eleven reported a net loss of $5.2 million on revenue of $4.85 billion, as compared to earnings of $25.3 million on revenue of $4.82 billion for the same period in 2001. Increased accounting charges and losses on discontinued operations comprised most of the drop off in year-to-date earnings.

For the past year, 7-Eleven has tested its Vcom kiosks in 98 stores in Texas and Florida. The company will utilize NCR's Convenience Connexions solution and NCR Personas 78's for the Vcom expansion.

The kiosks will allow customers to conduct ATM transactions, cash checks, perform Western Union money order purchases and money transfers, and e-commerce.