Japanese retailer Aeon has said it expects its half-year group profits to be slightly lower than previously forecast and also cut its parent earnings forecast for the full year.
Go deeper with GlobalData
Aeon forecast parent net income, which excludes subsidiaries and affiliates, of ¥15bn (US$126.0m) for the year to 20 February, compared to previous guidance of ¥20bn. It also cut its parent first-half earnings forecast to ¥3bn from ¥7.5bn.
The company said its group net profit for the full year would be in line with previous forecasts of ¥51.5bn.
Aeon said the revised forecasts were the result of cooler weather and heightened competition in food items, reported Bloomberg.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
