Bad weather weighed on retail performance, and food supermarkets saw operating profit decline by approximately 20% in the June–August period. Nikkei compiled the June–August results of 65 listed retailers, finding that total revenue rose 7% and operating profit was ¥330.6 billion.
Operating profit in the retail sector fell 10% year on year in the June–August period. This was the first decline in two quarters, as bad weather reduced customer traffic and higher material costs weighed on results.
Food supermarkets saw profit decline amid intensifying competition, with operating profit down approximately 20%. Total revenue rose 7% to ¥9.7128 trillion.
The companies covered by Nikkei’s compilation were 65 listed retailers with fiscal years ending in February. Their operating profit for the June–August period was aggregated.