AEON Co enjoys better margin in Q1, to launch retail offline-to-online in 2H

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KUALA LUMPUR: Aeon Co (M) Bhd made a higher net profit of RM22mil in the first quarter ended March 31 on improved merchandise gross margin and sustainable cost reduction structures.

Revenue, however, slipped 15% to RM1.01bil compared with RM1.19bil registered in the same quarter last year.

The company said the lower sales was due to the access restrictions implemented at AEON malls and stores nationwide throughout the pandemic.

“As we navigate the new normal, we will continue with the positive momentum and strive for greater financial returns in ensuring our stakeholders – employees, customers, partners, shareholders and investors – are well taken care of,” Managing Director/Chief Executive Officer Shafie Shamsuddin said in a statement today.

“We are excited about the vast potential of our New Retail offline-to-online approach, which will kickstart in the second half of the year, in partnership with US e- commerce BOXED,” Shafie concluded.



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