UPDATE 1-Uniqlo owner Fast Retailing forecasts profit recovery as pandemic abates [Reuters]
FAST RETAILING UNSP/ADR (FRCOY)
NASDAQ:AMEX Investor Relations:
fastretailing.com/eng/ir
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Source: Reuters
the year to August 2022 as the pandemic abates, the owner of clothing brand Uniqlo said on Thursday. The company said it expects operating profit to climb 8.4% to 270 billion yen ($2.4 billion) in fiscal 2021-22. For the year ended in August, it reported 249 billion yen in operating profit, topping the 245.7 billion forecast in a Refinitiv poll of 13 analysts. “Vaccinations are being carried out all over the world to control the spread of the disease, and the economy is growing in earnest,” chief executive Tadashi Yanai told reporters. Fast Retailing expects the pandemic will still drag on results in the first half of the fiscal year but will then recover in the second half as shopping habits return to normal. The company said it expects some negative effects from production or logistic delays, problems that have plagued major clothiers and their global supply lines in recent months. In September, Fast Retailing said The company said in late September that its clothing rel
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