Revenues and profits at Aeon fell during the first nine months of the Japanese retailer’s fiscal year, as concern over rising unemployment and falling wages dented consumer spending.
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Aeon said that group operating revenues dropped 3.9%, falling to JPY3.73trn.
Consolidated pre-tax profit in the period fell 20.3% from a year earlier, sliding to JPY54.1bn
However, the company reported narrowing net losses, which fell to JPY9.93bn this year from JPY29.45bn last year, when Aeon was hit by an increased tax-related burden and a special loss due to depreciation in asset value.
Aeon left its full-year earnings forecast unchanged, with net profit of JPY7.5bn expected against a loss of JPY15bn last year.
The company also said that it expects sales to pick up in th elast quarter, with a full-year increase of 0.2% anticipated.
