Aeon
Aeon sets sights on new era in south China
Department store and supermarket operator Aeon Stores (Hong Kong) plans to open 10 new outlets in southern China to tap the rising demand from developers for quality retailers in their property projects.
As of December, the company operated 38 stores in Hong Kong and 20 in southern China. The retailer has budgeted HKD213 million (USD27.4m) to open three stores in Hong Kong's Tsuen Wan, Kowloon City and Causeway Bay, and refurbish the Tuen Mun store in the coming year.
Aeon launches private brand in China
Aeon, the largest retailer in Asia, announced the launch of its private brand TOPVALU, which was born originally in Japan in 1994, in Chinese market recently and it will be offered to consumers on 9 March.
The brand covers 115 kinds of products with daily essentials as its bulk part, such as cooking oil, jelly and socks.
Aeon said that there will be 500 kinds of products under such a brand by the end of this year and 1,000 by 2013.
Aeon sets up headquarters in China
The multinational retail company Aeon launched more businesses in Chinese market with its new headquarters Aeon China starting its operation on Friday, meaning that its business scope extended from retailing to commercial real estate development, services and specialty stores. The Fortune 500 company will copy its leading-edged business model in Japan and start them in China with even bigger investment, leading another round of foreign investment in Chinese retail industry, according to industry insiders.
Jusco's new HK store will beat retail woes, Aeon says
Aeon Stores on Saturday opens its second-largest Jusco department store in Hong Kong, saying it is confident the HKD70 million (USD9.01m) investment would break even in two years despite an increasingly challenging retail market.
The three-storey department store occupies 22,300 square metres in a shopping mall in Lai Chi Kok, slightly smaller than its 24,200 square metre Hong Kong flagship store in Quarry Bay's Kornhill Plaza. Both shopping malls are owned by Hang Lung Properties.
Aeon to rebrand HK's $10 stores as Jusco Living
Aeon Stores (Hong Kong), operator of the 16 Jusco $10 Plaza stores in the city, said it would raise the price for all products tagged at HKD10 (USD1.28) to HKD12 from next month.
At the same time, the stores would be renamed Jusco Living Plaza, another brand under the retailing operator.
Aeon said on Friday that the main reason for the change was "the persistently rising exchange rate of the Japanese yen in recent years", which put pressure on its operational costs.
Japanese retailer AEON reports revenue decline
Multi-brand Japanese retailer AEON has reported a decline in revenue to JPY1.2 trillion (USD15.16b) for the first quarter of the financial year ended 31 May, down from JPY1.21 trillion for the same period in 2010.
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Aeon says beat profit forecast on cost cuts, sales boost
Aeon, Japan's second largest retailer, said it comfortably beat its profit forecast for the financial year ended last month thanks to cost cuts and improved sales at its general merchandise stores.
The company, which competes with industry leader Seven & I in Japan, said it expects to post an operating profit of JPY171.6 billion (USD2.12b) for the just ended year, against its prior estimate of JPY150-160b.
Aeon eyes China with Parco stake
Retailer Aeon Co. has bought a stake in department store operator Parco Co. as part of its plans to expand in Japan's urban areas and China.
Aeon – Japan's second largest retailer and operator of the Jusco supermarket chain – said in October it is focusing on Tokyo and other urban areas where it expects the population to grow.
Japan retailer Aeon profit jumps, keeps outlook
Aeon, Japan's second largest retailer, posted a 52 percent surge in quarterly operating profit because cost-cutting bolstered profitability as sales nudged up in its stagnant home market.
The operator of department stores, supermarkets and shopping malls on Friday reported a September-November operating profit of JPY31.2 billion (USD374.5 million). Bigger rival Seven & I Holdings, Japan's top retailer, on Thursday reported a smaller 7.4 percent rise in quarterly profit, to JPY56.4b (USD681.88m).
Aeon kept its annual outlook unchanged after raising it last quarter.
Aeon eyes Carrefour's SE Asia stores
Aeon Co.'s appetite for Carrefour SA's stores in southeast Asia is an attempt to extend the Japanese retailer's global reach as the company struggles with weak consumer spending and heightened competition at home.
Aeon's move is unusual among its peers. Japan's retailers haven't been particularly active in pursuing acquisitions abroad, with the exception of Fast Retailing Co.'s failed USD900-million bid to purchase Barneys New York Inc. in 2007.
