Ito-Yokado Co. said Thursday its operating profit plunged 64 percent to 8.8 billion yen on a parent-only basis for the year that ended on Feb. 28, dragged down by dismal apparel sales.
The results of Japan's second-largest retailer and those of its larger rival, Aeon Co., underscored the recent weak performance of general merchandise stores being aided by other businesses.
The parent-only figures are considered better reflective of the retailer's main general merchandise businesses since they do not include the subsidiaries.