The fortunes of Japanese retailer Aeon were less than fortunate in 2008, and the company is expected to post a ¥10-20bn (US$110-220m) net loss for the nine month period ending in November.
The Nikkei Business Daily reported the retailer’s results were knocked by a writedown of its US clothing unit Talbots.
The continuing decline of Japanese consumer spending has also been plaguing the company, and Aeon is expected to lower its outlook for the year ending in February.
An annual net profit of ¥11-12bn (US$120-163m) has been forecast by Aeon, a fall of 66-75 per cent over the previous year.
The nine-month earning results will be announced on 7 January.
No comments yet