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Business

Shoe store chain ABC-Mart seen beating profit forecast

Wider selection of Nike, Adidas and other brands lifted Japanese retailer

ABC-Mart is seeing robust demand for brand-name sneakers.

TOKYO -- Footwear retailer ABC-Mart's operating profit probably grew by a better-than-expected 3% to about 43 billion yen ($406 million) in the year ended February, as a bigger lineup of foreign shoe brands helped drive sales during the end-of-year holiday season.

The Japanese company looks likely to beat its group operating profit forecast of a 2% increase to 42.5 billion yen, marking a 15th straight year of growth.

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