Struggling retailer Daiei Inc. said Friday it beat its earnings target for the year that ended Feb. 29, helped by sales campaigns cashing in on its professional baseball team's national championship.
Daiei's earnings reports have been closely watched; the once-dominant industry leader is trying to turn itself around with the help of lenders and the government-affiliated Development Bank of Japan.
During a news conference in Tokyo, Daiei President Kunio Takagi said the situation surrounding the supermarket chain remains harsh for the current business year. He said the outlook is likely to improve in the latter part of the year.