Japan’s Fast Retailing owners of Uniqlo, posted a 35 per cent rise in second-quarter operating profit and upgraded its full year forecast by 13 per cent as overseas sales took the lead in driving growth.
Operating profit at Asia’s biggest clothing retailer was around 56.6 billion yen ($529.47 million) in the quarter ended February. This was above a consensus estimate of 49.1 billion yen from eight analysts polled by Thomson Reuters I/B/E/S.
Forecasters see profit hitting 221.4 billion yen. Fast Retailing upgraded its full-year operating profit forecast to 225 billion yen from 200 billion yen earlier.