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Retailer Aeon Co. revised downward on Wednesday its group earnings forecast for the 2008 business year and warned it may fall into the red for the first time in seven years due to sagging consumer demand and special losses linked to its U.S. clothing unit The Talbots Inc.

For its irregular fiscal year from last Feb. 21 through Feb. 28 this year, Aeon said it now expects to log figures between a net loss of ¥2.5 billion to a net profit of ¥2.5 billion, compared with its earlier projection of a net profit of ¥11 billion to ¥15 billion.

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