Uniqlo operator Fast Retailing’s H1 profit rose 18% despite China slowdown

FILE PHOTO: People wearing face masks walk past a store of Fast Retailing’s fashion chain Uniqlo in Beijing, China May 22, 2020.
15:26 JST, April 14, 2022
TOKYO (Reuters) – Clothing brand Uniqlo’s Japanese owner said on Thursday first-half operating profit climbed 18%, even as COVID-19 lockdowns in China hampered sales in its biggest overseas market.
Fast Retailing Co said operating profit was 189 billion yen ($1.51 billion) in the six months through February, against 168 billion yen a year earlier.
The company maintained its full-year profit forecast at 270 billion yen. That compares with a consensus forecast for annual profit to total 278 billion yen, according to a Refinitiv poll of 11 analysts. ($1 = 125.4300 yen)
"BUSINESS" POPULAR ARTICLE
-
As wheat prices soar, Japanese food industry pushes rice flour as alternative
-
Prefectures welcome expansion of travel discount program to regional blocks
-
ANA resumes hangar tours at Haneda Airport after about 2 years
-
Auto parts manufacturer enters field of urban farming
-
Toyota unveils 1st exclusively electric model under Lexus brand
JN ACCESS RANKING