TOKYO Jan 11 Japan's Aeon Co posted a
5.5 percent fall in nine-month operating profit as soft consumer
demand and increased competition at its general merchandise and
grocery stores dented revenues, but the company maintained its
annual profit forecast.
Aeon, which competes at home with Seven & I Holdings Co
and Seiyu Group, the Japanese arm of Wal-Mart Stores
Inc, reported on Friday an March-November operating
profit of 96.2 billion yen ($1.1 billion).
The owner of Aeon Retail supermarkets as well as slew of
other retail formats from bicycle shops to shopping malls kept
its operating profit outlook for the year to February at 210-220
billion yen, against the average estimate of 204.8 billion yen
in a poll of 13 analysts by Thomson Reuters I/B/E/S.
Shares of Aeon fell 7 percent in 2012 calendar year,
compared with a 23 percent surge in the benchmark Nikkei average