April 4, 2019 / 6:20 AM / 7 months ago

Japan's Seven & i outlook misses consensus, cites weak consumption

TOKYO, April 4 (Reuters) - Japanese retail group Seven & i Holdings Co on Thursday forecast a weaker-than-expected rise in operating profit for the current fiscal year, citing sluggish consumer spending.

The company said it expects a 420 billion yen ($3.77 billion) operating profit in the current year through February, up 2 percent from 411.6 billion yen booked for the previous year.

The market’s consensus forecast was for 439 billion yen in the current year, according to Refinitiv data based on 12 analysts’ estimates. ($1 = 111.4000 yen) (Reporting by Ritsuko Ando; Editing by Christopher Cushing)

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