AEON STORES: Plans to add 8 stores in the Greater Bay Area; Hong Kong business difficult to turn a profit this year

AEON STORES Managing Director Takeshi Nagashima stated that the economic uncertainty in Hong Kong is expected this year, with citizens being cautious in their spending, and physical stores facing a severe environment. The group will increase the proportion of popular products and its own brand, and introduce products from Japan, Southeast Asia, and the mainland. Plans to open 8 new stores in the Greater Bay Area, including Guangzhou, Shenzhen, and Foshan, as well as 4 new small specialty stores Mono Mono. Last year, the Hong Kong business incurred a loss of HKD 280 million, and it is expected to be difficult to turn a profit this year, requiring 2 to 3 years for improvement