Photographer: Kiyoshi Ota/Bloomberg

Shoppers Tighten Purse Strings, Make Japan Retailers See Red

  • Aeon has $62 million loss, worst first-quarter in eight years
  • Retailers pledge to offer cheaper products, stoking deflation

Japan’s discount-seeking shoppers drove some retailers into the red last quarter as an uncertain economic outlook persuaded consumers to tighten their purse strings.

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