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Uniqlo owner Fast Retailing forecasts 8.4% rise in operating profit next year

A pedestrian walks past a Uniqlo clothing store operated by Japan's Fast Retailing in Tokyo on April 8, 2021. (AFP)
A pedestrian walks past a Uniqlo clothing store operated by Japan's Fast Retailing in Tokyo on April 8, 2021. (AFP)
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14 Oct 2021 03:10:58 GMT9
14 Oct 2021 03:10:58 GMT9

TOKYO: Japan’s Fast Retailing, owner of clothing brand Uniqlo, said on Thursday it expects operating profit to climb 8.4% to 270 billion yen ($2.38 billion) next year.

For the year ended in August, it reported 249 billion in operating profit. That compared with the 245.7 billion yen forecast in a Refinitiv poll of 13 analysts, and earnings of 149.3 billion yen a year ago.

The company’s shares have fallen 22% year-to-date, compared with a 4.1% advance in the benchmark Nikkei 225 index.

Reuters

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