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Don Quijote profit seen higher on cheap daily goods

TOKYO -- Don Quijote Holdings' operating profit likely reached a record 42 billion yen ($409 million) in the fiscal year ended in June, up 7% on the year and topping guidance of 41 billion yen.

The Japanese retailer apparently found success with a strategy of giving shoppers a feeling of saving through low prices. As consumers looked to cut down on everyday costs, sales grew for such daily goods as milk, detergent and shampoo.

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