Aeon seen posting 2.5-fold jump in Q1 profit-Nikkei

TOKYO, July 6 (Reuters) - Aeon Co (8267.T), Japan's second-biggest retailer, is expected to post a 2.5-fold jump in quarterly profit to 22 billion yen ($251 million) on cost cuts, the Nikkei business daily reported on Tuesday.

The paper said Aeon, which competes with Seven & I Holdings (3382.T), has cut about 30 billion yen by lowering personnel costs and utility expenses at its stores. Its profit was also helped by improved earnings at its overseas units, it added.

Sales in March-May were likely to have fallen 3 percent to 1.21 trillion yen in a weak economy while cold weather in March and April also weighed on clothing sales, the paper said.

Aeon is expected to keep its full-year outlook, which sees operating profit rising between 11 and 19 percent to between 145 billion and 155 billion yen, the paper said.

The company is due to report quarterly earnings on Wednesday. (Reporting by Sachi Izumi; Editing by James Dalgleish)