Japan's Fast Retailing Co (9983.T), owner of clothing brand Uniqlo, reported on Thursday that full-year operating profit rose 28% to reach its second consecutive record, aided by a post-pandemic recovery in China and the yen's slide.
A customer looks at a cardigan in a store of the Uniqlo fast fashion retailer in the Sanlitun shopping district in Beijing, China, November 6, 2021. REUTERS/Thomas Peter/File photo, owner of clothing brand Uniqlo, reported on Thursday that full-year operating profit rose 28% to reach its second consecutive record, aided by a post-pandemic recovery in China and the yen's slide.
The result was slightly above the consensus forecast of 374.6 billion yen, according to the average estimate of 12 analysts collected by LSEG, as well as the company's previous guidance of 370 billion yen. Fast Retailing, known for its fleece jackets and inexpensive basics, has 930 Uniqlo outlets in mainland China - more than in Japan - making it a bellwether for retailers operating in the world's second-biggest economy.
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