Aeon in Malaysia boosts sales and profits on new stores
Aeon in Malaysia has reported a 5.4 per cent boost in sales last year to US$275.9 million, boosting profit by 3.97 per cent to $25.8 million.
The company credited the improvement to freshly renovated stores and new specialty stores.
But Aeon in Malaysia has warned of challenging times ahead in wake of the coronavirus crisis, which is already adversely affecting the nation’s economy.
“Barring the economic stimulus package to be announced by the government, we expect a moderate growth due to the challenging environment,” the company said in an earnings statement.
Aeon is working on strategies to ensure it can weather any impact from coronavirus.
“These includes realignment of our merchandise assortment to be in line with the current sentiment of the consumers and tackling the crisis together with its business partners.”
Founded in 1984, Aeon in Malaysia is a partially owned subsidiary of the Japanese retail giant Aeon. It also operates Index Living Mall in the country.