UPDATE 2-Uniqlo owner posts 23% jump in HY profit, raises annual profit estimate [Reuters]
FAST RETAILING UNSP/ADR (FRCOY)
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fastretailing.com/eng/ir
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Source: Reuters
Uniqlo owner posts 23% jump in HY profit, raises annual profit estimate By Reuters Staff 2 Min Read TOKYO (Reuters) - Japan’s Fast Retailing, the owner of clothing brand Uniqlo, on Thursday reported a 23% jump in half-yearly operating profit and raised its full-year profit estimate. The company has been among the most resilient retailers during the COVID-19 pandemic, as Uniqlo’s focus on China and Japan helped it escape the worst of the downturn that hit the United States and Europe. Fast Retailing said operating profit was 168 billion yen ($1.53 billion) in the six months through February, against 136.7 billion yen a year earlier. The company raised its full-year operating profit forecast to 255 billion yen from 245 billion yen. The average estimate in a Refinitiv poll of 15 analysts was 262.9 billion yen. During the pandemic, Uniqlo briskly sold masks and saw strong demand for its stay-at-home jogging pants and other comfortable apparel. However, the company is now dealing with cri
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