JAPAN: Aeon profit slides, outlook affirmed
- 9M operating profit down 5.5%
- Operating sales up 9.9%
- FY guidance maintained
Aeon affirms FY outlook
Japanese retailer Aeon has reaffirmed its full-year outlook, despite posting a drop in operating profit for the first nine months of the fiscal.
In a regulatory filing, the company revealed a 5.5% decline in operating profit in the nine-months to end-November, which slid to JPY96.2bn (US$1.1bn).
The company said on Friday (11 January) that profits were down on lower food and general merchandise sales. However, the company said total sales were up 9.9% to JPY4,120.46bn.
Looking to the full-year, Aeon maintained its operating profit outlook at JPY210-220bn.
- Rise of prepared foods in US grocers - analysis
- Work on sugar could stir more clean-label concerns
- Are consumers getting tired of consuming?
- Hershey results, outlook, M&A - the top takeaways
- How are brands organising for e-commerce?
- Nestle, R&R Ice Cream finalise joint venture plans
- Fazer buys European biscuit brands from Mondelez
- Hershey buys company behind BarkThins brand
- Mondelez sees stronger margins, LFL growth
- Pinnacle Foods names Mondelez's Mark Clouse CEO