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Aeon, Seven & I lead retail profit run in Japan

Among major retailers in Japan, Aeon Co. and Seven & I Holdings Co. have reported record group operating profits for March-May, the first quarter of their current business year.

Aeon’s quarterly operating profit jumped 55.4 percent from a year before to JPY34.9 billion (USD285.6 million). The group’s supermarket stores focusing on foods returned to profitability, although its general merchandise supermarkets, which also sell clothing, sank deeper in the red mainly on refurbishment costs.

Seven & I’s group operating profit rose 5.6 percent to JPY81.8 billion, led by the Seven-Eleven Japan Co. convenience store unit, which reported a profit of JPY58.0 billion, up 5.1 percent, partly thanks to brisk sales of rice balls and doughnuts.

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