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Japan's Aeon lifts full-year profit forecast on restructuring boost
October 4, 2017 / 7:15 AM / 2 months ago

Japan's Aeon lifts full-year profit forecast on restructuring boost

TOKYO, Oct 4 (Reuters) - Aeon Co Ltd, Japan’s largest retailer by sales, upgraded its full-year earnings forecast on Wednesday, helped by restructuring at its struggling general merchandising stores.

The supermarket and shopping mall operator said it expected operating profit to hit 200 billion yen ($1.78 billion) in the year through February.

It had previously forecast profit of 195 billion yen.

Aeon made no change to its full-year sales forecast.

For the six months through August, Aeon said improved performance at its GMS division helped lift operating profit to 85 billion yen - a 17.5 percent rise. ($1 = 112.6100 yen) (Reporting by Sam Nussey; Editing by Christopher Cushing)

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