An unseasonably cool summer has chilled the country's retailers, prompting sector leader Ito-Yokado Co. to cut its half-year earnings outlook by 41.4 percent.

The supermarket chain said Friday it is likely to report a 17 billion yen group net profit for the six-month period through August, compared with the original forecast of 29 billion yen.

The revenue estimate was cut by 0.7 percent to 1.77 trillion yen.