Aeon, Japan's second-largest retailer, has reported that first-half profit slumped 40 per cent through the first six months of 2009, down to US$397m.
The fall was attributed by the group to weak consumer spending, which hit supermarkets and department stores as the country continued to experience a difficult economic climate, Reuters reported.
However, the group kept its forecast for the full year at a range of JPY130m-140m, up 4.5 per cent-12.6 per cent on 2008.
Aeon currently operates around 1,800 supermarkets and grocery outlets as well as a host of specialty stores in Japan.
