HK-listed Aeon Stores sinks to 15-1/2-year low on weak H1 outlook

AEON Stores Hong Kong

17/07/2019 07:11

** Shares of Aeon Stores Hong Kong Co Ltd  0984.HK  slide as
much 2.3% to HK$3.81, their lowest since November 2003, after
the department store operator forecast deeper loss in H1 
    ** Hong Kong-listed unit of Aeon Co Ltd  8267.T  expects to
post deeper loss for six months ended June, as compared with a
loss a year ago amid weaker economies in Hong Kong and mainland
China that hit consumption and retail sentiment  urn:newsml:reuters.com:*:nFWN24H0KN
    ** Co says implementation of a new accounting standard also
affects its financial performance 
    ** As of Tuesday's close, stock down 7.4% so far this year
    ** Aeon Stores has underperformed the Hang Seng Commerce &
Industry Index sector  .HSNC  by 8.1 percentage points in the
past one month
    ** Bigger rival Lifestyle International  1212.HK  also
slides 1.8% to HK$11.10, the lowest since June 27
    ** The Hong Kong Hang Seng sub-index tracking consumer goods
companies  .HSCICG  gains 0.1%, and the benchmark index  .HSI 
eases 0.3%

 (Reuters Messaging: donny.kwok.thomsonreuters.com@reuters.net)