Uniqlo owner Fast Retailing posts 31% rise in full-year profit, beats estimates [Yahoo! Finance]
FAST RETAILING UNSP/ADR (FRCOY)
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fastretailing.com/eng/ir
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Source: Yahoo! Finance
Operating profit rose 31% to 500.9 billion yen ($3.35 billion) in the 12 months through August from 381.1 billion yen a year earlier, the apparel maker said in a statement. That compared with the 478.3 billion yen average of 15 analyst estimates compiled by LSEG, and the company's own forecast of 475 billion yen. Fast retailing said it expects operating profit to climb further to 530 billion yen in fiscal 2025. Uniqlo, known for its fleece jackets and inexpensive undergarments, has benefited from a historically weak yen both at home and abroad. A tourism boom in Japan has led to a surge in duty free shopping, while revenue from its push into Western markets gets an added boost when translated back into yen. Fast Retailing's earnings have been less rosy in China, the company's biggest overseas market. With more than 900 stores on the mainland, Fast Retailing has long been seen as a bellwether for the retail sector in the world's second-biggest economy. Pandemic restrictions
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- Uniqlo: A Force Of Fabric In The Fast Fashion Sector [Forbes]Forbes
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