Convenience retailer Lawson Inc has suffered under persistent deflationary conditions and sluggish consumer spending in Japan and posted an 8% drop in first-quarter profits.

Lawson booked operating profit of JPY11.2bn (US$127.58m) for its first quarter ended 31 May, a fall of 8.2% on the year.

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Net profit reached JPY4.08bn, a 31.7% drop on the previous year. Recurring profit dropped 9.1% to reach JPY10.95bn.

The company also attributed its results to persistently bad weather conditions.

 

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