Aeon, Japan's number one supermarket operator, has reported a 17.3 per cent drop in operating profit in June-August compared to the prior-year period due to lower supermarket and convenience store sales, reports Reuters.
The firm posted a Q2 operating profit of ¥39.7bn (US$505.67m) on Friday (12 October), but retained its full-year profit forecast of ¥210-220bn for its business year to next February.
Aeon's first-half operating profit was down 7.5 per cent year-on-year.
Retail food price wars and a drop in consumer demand has dented profits at Japan's major general retailers this quarter, according to Reuters.
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