Fast Retailing Reports Record First-quarter Performance [Barron's]
FAST RETAILING UNSP/ADR (FRCOY)
NASDAQ:AMEX Investor Relations:
fastretailing.com/eng/ir
Company Research
Source: Barrons
Text size Uniqlo operator Fast Retailing posted a record first-quarter profit on Thursday and kept its yearly forecast unchanged, even as business in the key market of mainland China was hit by virus restrictions. The Japanese casualwear behemoth said better-than-expected sales and profit in the three months to December could largely be explained by the "growing diversification" of its business. While it does not expect the spread of the highly contagious Omicron coronavirus variant to dent overall performance in 2021-22, the company sounded a note of caution over the unpredictable impact of the pandemic. "We expect to achieve our initial estimates, though we have difficulties involved in attempting to predict the future situation due to the global spread of Covid-19," it said in a statement.
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