Walmart Inc is selling a majority stake in Japanese supermarket chain Seiyu to investment firm KKR and e-commerce company Rakuten for over $1 billion, after years of struggling to make money amid stiff competition.
Times may still be tough for Laura Ashley but its fashion business powered ahead in H1 with double-digit growth and the spring collection looks like it could deliver more of the same, it said Wednesday.
Aeon Co Ltd, Japan’s largest retailer by sales, posted a record annual operating profit after a 14 percent jump from the previous year on the back of restructuring efforts, and forecast a further gain this year.
Japan’s economy is gathering steam, profits are at record levels and companies are poised to raise wages, yet retailers are struggling to lift prices for fear of losing customers used to nearly two decades of deflation.
Aeon Co Ltd, Japan's largest retailer by sales, on Wednesday reported a 11.4 percent rise in first-quarter profit, beating estimates, boosted by improved performance at its struggling general merchandising stores.