Fast Retailing, owner of Uniqlo, reports 5.6% increase in first quarter profit, beats estimates By Reuters

TOKYO (Reuters) – Japan’s Fast Retailing, owner of clothing brand Uniqlo, said on Thursday its first-quarter operating profit rose 5.6% from a year earlier, boosted by sales in Southeast Asia, North America and Europe.

Profit reached 119.4 billion yen ($ 1.04 billion) in the quarter ended November 30. The consensus market forecast was 102.6 billion yen, according to an average forecast from analysts at Refinitiv.

Uniqlo’s international segment posted record results in the first quarter, as revenues and profits declined in operations in Japan and mainland China, the company said in a statement.

The company kept its operating profit forecast up 8.4% to 270 billion yen in the fiscal year ending August.

Fast Retailing shares have fallen 9.5% year-to-date, compared to a 1.1% drop in the benchmark.

($ 1 = 114,5700 yen)

Warning: Fusion media would like to remind you that the data contained in this site is not necessarily real time or accurate. All CFDs (stocks, indices, futures) and Forex prices are not provided by the exchanges but rather by market makers. The prices may therefore not be exact and differ from the actual market price, which means that the prices are indicative and not suitable for trading purposes. Therefore, Fusion Media assumes no responsibility for any business losses that you may incur as a result of the use of such data.

Fusion media or anyone involved with Fusion Media will not accept any responsibility for any loss or damage resulting from reliance on any information, including data, quotes, graphics and buy / sell signals contained in this website. Please be fully informed about the risks and costs associated with trading in the financial markets, it is one of the riskiest forms of investing possible.