Uniqlo Owner Slides On China Concerns [Barron's]
FAST RETAILING UNSP/ADR (FRCOY)
NASDAQ:AMEX Investor Relations:
fastretailing.com/eng/ir
Company Research
Source: Barrons
China "reported a decline in revenue and considerable drop in profits" in the three months to November 30, Fast Retailing said Thursday as it reported a 22 percent rise in overall net income. This was "after failing to compile sufficient product mixes (in China) suited to warm winter weather or develop a sufficiently detailed response to the minute needs of individual regions" it added. The firm's operations in China could also suffer further after chief executive Tadashi Yanai told the BBC in November that Uniqlo did not use cotton from the Xinjiang region. China has been accused of incarcerating more than one million Uyghurs and other Muslim minorities in the northwestern region. Beijing rejects the allegations. Yanai's comments sparked online calls in
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