Uniqlo owner Fast Retailing reports 5.6% rise in Q1 profit, beats estimates [Reuters]
FAST RETAILING UNSP/ADR (FRCOY)
NASDAQ:AMEX Investor Relations:
fastretailing.com/eng/ir
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Source: Reuters
rose 5.6% from a year earlier, boosted by sales in South Asia, North America and Europe. Profit rose to 119.4 billion yen ($1.04 billion) in the three months ended Nov. 30. The market's consensus forecast was for 102.6 billion yen, an average of analysts' forecasts from Refinitiv showed. Uniqlo's international segment reported record first-quarter results, while revenue and profits declined at operations in Japan and mainland China, the company said in a statement. The company maintained its forecast for operating profit to climb 8.4% to 270 billion yen in the fiscal year ending in August. Fast Retailing's shares have fallen 9.5% year-to-date, compared with a 1.1% drop in the benchmark Nikkei 225 index (.N225) ($1=114.5700 yen) Reporting by Rocky Swift in Tokyo; Editing by Clarence Fernandez and Subhranshu Sahu Our Standards: The Thomson Reuters Trust Principles.
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