Uniqlo-owner Fast Retailing keeps posting record profits, but one analyst warns of uncertainty [MSNBC.com]
FAST RETAILING UNSP/ADR (FRCOY)
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Source: MSNBC.com
Uniqlo-owner Fast Retailing keeps posting record profits, but one analyst warns of uncertainty Customers exit a Uniqlo store, operated by Fast ing Co., in Tokyo, Japan. Akio Kon | Bloomberg | Getty Images Japan's The firm, which owns apparel giant Uniqlo, said Thursday that it had booked record profit for the third-straight year But the retailer's profit forecast missed expectations. Fast ing projected operating profits would grow 6.7% in fiscal 2020, well below the 15% growth analysts polled by Refinitiv had estimated. "It's a great, great name, great brand but there's a lot of uncertainty," Peter Boardman, managing director at NWQ Investment Management, told CNBC's "Squawk Box" on Friday. "Things are slowing down." Recent data have pointed to a slowing Chinese economy after years of rapid growth, with concerns that the worst may not be over. "Remember, 35% of their profits come out of China. So any sort of slowdown in China is certainly negatively affecting Fast ing or Uniqlo," Boar
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