Aeon, Japan’s second-largest retailer by revenue, warned today (7 January) that it could post a full-year net loss after it saw a fall in earnings during the first nine months of the year.
Go deeper with GlobalData
In a trading update, the company said that poor domestic retail sales and a writedown at its US clothing retail unit, Talbots, weighed on its results.
Aeon said operating profit totalled JPY65.9bn (US$702m) for the nine months, down 18% from the same period a year earlier.
Aeon posted a net loss of JPY29.45bn in the nine months ended 20 November, down from a profit of JPY31.92bm in the corresponding period a year earlier.
During the nine-month period, same-store sales fell 1.2% year-on-year. Food sales held up relatively well, with the sales decline driven by a 4.4% fall in clothing sales, the company revealed.
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 GlobalDataFor the full year ending in February, Aeon said that it expects profits to fall in a range of JPY2.5bn to a loss of JPY2.5bn. Previously, the company had offered profit guidance of JPY11-15bn.
