Japanese retailer Aeon has overtaken rival Ito-Yokado to become Asia’s biggest retailer by sales.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
This week Aeon reported sales of ¥3.546trn (US$33.4bn) for the full year to 29 February, ¥4bn higher than Ito-Yokado’s sales of ¥3.542trn.
Ito-Yokado posted a group net profit of ¥53.63bn for the year, an increase of 15% year-on-year, helped by the strong performance of convenience store chain Seven-Eleven Japan, which is 51% owned by Ito-Yokado.
Seven-Eleven Japan reported a 12.4% rise in net profit to ¥93.14bn. The company’s sales increased 11.8% to ¥474.28bn.
