Aeon says first quarter profit more than doubled

TOKYO, July 7 (Reuters) - Japan's second-largest retailer Aeon Co Ltd (8267.T) more than doubled its operating profit in the first quarter, buoyed by cost-cutting efforts, and stuck to its full-year outlook.

Aeon and rival retailers have yet to enjoy the country's export-led economic recovery as consumers remain cautious on spending.

Aeon, the operator of Jusco general merchandising stores, said on Wednesday its operating profit was 21.8 billion yen ($249 million) in the March-May period, up from 8.7 billion yen a year earlier.

In the wake of a sharp fall in sales amid the economic downturn following the global financial turmoil two years ago, the company has been stepping up its drive to cut costs.

For the full-year to next February, the company kept its forecast for an operating profit of 145-155 billion yen, up 11-19 percent from a year earlier, in line with a mean estimate of 145.5 billion yen in a poll of 12 analysts by Thomson Reuters I/B/E/S.

Shares of Aeon have risen 26 percent so far this year, outperforming an 11 percent decline in the benchmark Nikkei average .N225. ($1=87.55 Yen) (Reporting by Taiga Uranaka)