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Stock impact report

Fast Retailing books record profit on Asia growth, U.S. recovery [Reuters]

Fast Retailing Co Ltd (FRCOY)  More Company Research Source: Reuters
NASDAQ:AMEX Investor Relations: fastretailing.com/eng/ir
PDF Fast Retailing books record profit on Asia growth, U.S. recovery | Reuters 3 Min Read TOKYO (Reuters) - Fast Retailing ( 9983.T ), owner of Japan’s popular clothing chain Uniqlo, booked a record annual profit and forecast even stronger results in the current year, helped by growth in Asia and a recovery at its U.S. stores. Uniqlo, known for its simple and affordable clothes such as lightweight down jackets, has grown through decades of weak consumption in Japan. It is also proving popular abroad, with overseas sales exceeding domestic revenue for the first time ever in the year ended August. Its annual operating profit rose 34 percent to a record 236.2 billion yen ($2.11 billion), the company said on Thursday. That was in line with analysts’ median forecast for 237.5 billion yen, according to Refinitiv data. It forecast an operating profit of 270 billion yen for the current financial year, above a market consensus for around 263 billion yen, on continued strength in China and Southe [Read more]
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