Fast Retailing Posts Record Revenue, Profits

Economy

Tokyo, July 11 (Jiji Press)--Fast Retailing Co., the operator of Uniqlo casual clothing stores, on Thursday reported record consolidated revenue and profits for the nine months that ended in May on the back of brisk overseas sales and a weak yen.

Revenue grew 10.4 pct from a year before to 2,366.5 billion yen. Operating profit climbed 21.5 pct to 401.8 billion yen, and net profit rose 31.2 pct to 312.8 billion yen.

In overseas Uniqlo business, revenue and profit in North America and Europe rose sharply. China operations were sluggish partly due to unseasonable weather. In Japan, revenue and profit grew.

Fast Retailing raised its outlook for the year ending next month, now forecasting record revenue and profits.

Revenue is projected to increase 11.0 pct from the previous year to 3.07 trillion yen, up from an initially estimated 3.03 trillion yen.

[Copyright The Jiji Press, Ltd.]

Jiji Press