Some Major Retailers Skip Biz Estimates amid Virus Crisis

Economy

Tokyo, April 13 (Jiji Press)--Major Japanese retailers Seven & i Holdings Co. <3382> and Lawson Inc. <2651> have stopped short of providing their respective group earnings forecasts for the year through February 2021, due to difficulties calculating impacts of the ongoing coronavirus pandemic.

Aeon Co. <8267> has said that its group operating profit for the year is expected to fall by up to 76.8 pct from the previous year, while FamilyMart Co. <8028> has given up estimating impacts of the pandemic for May and later.

Supermarkets and convenience stores had enjoyed steady demand since late January due to school closures and the promotion of teleworking amid the coronavirus outbreak.

But their prospects became uncertain after a growing number of people stayed at home following a surge in the number of people infected with the virus.

They have been battered further by the government's declaration last week of a state of emergency over the pandemic.

[Copyright The Jiji Press, Ltd.]

Jiji Press