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Stock impact report

UPDATE 2-Uniqlo owner sees strong rebound as basic fashion resilient in pandemic [Reuters]

Fast Retailing Co Ltd (FRCOY)  More Company Research Source: Reuters
NASDAQ:AMEX Investor Relations: fastretailing.com/eng/ir
PDF Uniqlo owner sees strong rebound as basic fashion resilient in pandemic By Ritsuko Ando 3 Min Read TOKYO (Reuters) - Japan's Fast Retailing 9983.T , owner of casual fashion brand Uniqlo, on Thursday forecast a stronger-than-expected surge in operating profit this business year as it rebounds from the pandemic. Fast Retailing, along with other global apparel makers, has been hit hard by COVID-19, which wreaked havoc on supply chains, kept shoppers home and dented spending. But the Japanese retailer has fared better than most rivals thanks to ample cash and an emphasis on practical, casual wear. Its shares have rallied in recent months, closing on Thursday at a record 70,420 yen. For the year ended in August, it reported a 149 billion yen ($1.42 billion) operating profit, down 42% from a year earlier but beating the market’s consensus forecast of 137 billion yen, according to Refinitiv data. Its forecast for a 64% surge to 245 billion yen this business year also beat the market’s [Read more]
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