Japan retailer Aeon warns of weaker-than-expected annual profit


TOKYO, April 5 () - Japanese retail group Aeon slashed its annual profit estimate by 12 percent, citing bad weather and weak consumer sentiment.

The company warned that it expected to report a profit of 212 billion yen ($1.90 billion) for the year that ended in February, down from its previous forecast of 240 billion. The market's consensus forecast was for 226 billion yen, according to Refinitiv data.

Aeon owns Japan's biggest supermarket chain, but its stores have struggled due to lacklustre growth in household spending.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Other Topics

World Markets


Reuters, the news and media division of Thomson Reuters, is the world’s largest international multimedia news provider reaching more than one billion people every day. Reuters provides trusted business, financial, national, and international news to professionals via Thomson Reuters desktops, the world's media organizations, and directly to consumers at and via Reuters TV.

Learn More