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Fast Retailing Raises Forecast as Operating Profit Surges

The owner of clothing brand Uniqlo reported on Thursday that its nine-month operating profit soared 22 percent.

The Uniqlo store in New York's SoHo neighbourhood. — Uniqlo owner posts 22 percent surge in 9-month operating profit. (Shutterstock)

By

Reuters

13 July 2023

Japan’s Fast Retailing , the owner of clothing brand Uniqlo, reported on Thursday that its nine-month operating profit soared 22 percent.

Profit rose to 330.6 billion yen ($2.38 billion) from 271.1 billion yen in the year-earlier period. The company raised its full-year profit forecast to 370 billion yen from 360 billion yen.

That compares with an average estimate of 363 billion yen in annual operating profit, based on a poll of 14 analysts polled by Refinitiv.

By Rocky Swift; Editor: Stephen Coates

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Fast Retailing’s Uniqlo to Add Stores in North America

Uniqlo is opening six stores — four in the US and two in Canada — this summer as part of its expansion plan to reach more than 200 locations in North America by 2027.

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