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Article: AEON STORES WARNS OF BIG DECLINE IN SALES
- Article from:
- AsiaInfo Services
- Article date:
- August 4, 2009
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AsiaInfo Services
08-04-2009
AEON Stores Warns of Big Decline in Sales
BEIJING, Aug 04, 2009 (SinoCast Daily Business Beat via COMTEX) -- AEON Stores (Hong Kong) Co., Ltd. (SEHK: 0984) warned yesterday that it could see a sharp contraction in sales for the first half of 2009 and its net profits would record a year-on-year decline.
Board of directors of the company attributed the sales slowdown mainly to negative influence imposed by the global financial crisis, the recession-hammered, worse-than-expected sales in South China, and a write-down in advance rental payment.
The retailer recorded as much as HKD 2.602 billion in the first half of 2007. Net profits were HKD 136 million. It said that ...
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