Strong Q2 for Japan’s AeonThis article was originally published in Foodnews
JAPAN’S second-biggest retailer, Aeon Co, has raised its full-year outlook on the back of a solid set of quarterly results. For its June-August quarter, robust sales of food and household staples helped lift profits by nearly a fifth. The retailer now forecasts operating profit to be as much as USD2.7 billion for its year to February 2012, which would beat market expectations. Aeon, Japan’s second-biggest after Seven & I Holdings, also unveiled plans to spend USD585 million to buy domestic supermarket chains Marunaka and Sanyo Marunaka to expand its presence in central Japan, Reuters reported.