Uniqlo Owner Fast Retailing Q2 Profit Rises 29.4 Percent
Uniqlo owner Fast Retailing reported a 29.4 percent rise in quarterly profit and raised its full-year forecast. The results beat analyst expectations today.
FAST RETAILING CO LTD, the parent company of the Uniqlo clothing brand based in Japan, has reported a significant 29.4% increase in its second-quarter operating profit. This performance came just before geopolitical tensions in the Middle East began to impact global markets and supply chains. For the three-month period ending in February, the retail giant recorded an operating profit of 189.8 billion yen, which converts to approximately $1.19 billion based on current USD/JPY exchange rates. This result comfortably exceeded the 146.7 billion yen reported during the same quarter the previous year and surpassed the average analyst estimate of 161.6 billion yen compiled by LSEG.
