Seven & i posts stronger profit

TOKYO, July 10 (Reuters): Japan's Seven & i Holdings said on Thursday operating profit rose 9.7% in the March to May quarter, beating analysts' estimates, helped by improved performance by its overseas convenience stores business.

The 7-Eleven operator is under pressure to improve its earnings in the face of a $47 billion takeover bid from Canada's Alimentation Couche-Tard.

Profit in the first quarter was 65.1 billion yen ($445.19 million).

The Japanese retailing giant previously announced a share buyback, is selling off non-core assets and plans to list its North American convenience store business.

Profit fell at the company's domestic convenience stores business while overall net profit was boosted by the sale of store assets by retailer Ito-Yokado.