Japanese retailer Aeon has lowered its group operating profit forecast for the fiscal year ending 20 February from between JPY200bn (US$1.72bn) and JPY210bn down to JPY190bn.
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The retailer said that the revised guidance reflected a weaker than anticipated performance from its supermarket business, which has experienced depressed sales due to the mild winter.
The revised estimate is 14.4% higher than Aeon’s results last year.
Aeon has forecast a 9.7% year-on-year increase in revenue, which is expected to rise to JPY4.86trn. Net profit is expected to reach JPY56bn, up 93.6%.
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By GlobalData
