Japanese retailer Aeon is expected to post parent-only sales of ¥1.7trn (US$14.4bn) for the fiscal year to 28 February, enabling it to take the place of rival Daiei as the number one supermarket retailer in terms of sales.

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Daiei, meanwhile, is expected to miss its sales target of ¥1.59trn for the fiscal year, as it undergoes restructuring to streamline its operations, reported the Nihon Keizai Shimbun.


In 1979, Daiei became the first Japanese retailer to achieve more than ¥1trn in sales.


Aeon has forecasted pre-tax profit up 14% in fiscal 2002 to a record ¥33bn on a parent-only basis.


 

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