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Japan: Aeon likely to post record profits

Japanese retailer Aeon Co likely topped 210 billion yen ($2.51 billion) in group pretax profit for the fiscal year ended last month, climbing 15 percent to a new high helped by strong sales of its store-brand products.

Group operating revenue likely rose to nearly 5.2 trillion yen, overtaking Seven & I Holdings Co to become the biggest retailer in Japan by sales.

The retail group has expanded the proportion of store-brand offerings, which cost less to advertise and deliver high margins, helping boost supermarket earnings.

Aeon Retail Co, which operates the group's general merchandise stores, likely saw a second straight year of growth in same-store sales with a 0.3 percent rise.

Source: www.reuters.com

Publication date: 3/22/2012


 


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