News Column

Fast Retailing cuts full year net profit outlook to 78 bil. yen

July 9, 2014

Fast Retailing Co., operator of the Uniqlo casual clothing chain, revised downward on Thursday its group net profit outlook for the current business year through August to 78 billion yen from the earlier forecast 88 billion yen, partly due to a decline in foreign exchange gains.

The Japanese retail giant kept intact its full-year operating profit projection at 145.5 billion yen, up 9.5 percent from the previous year before on sales of 1.37 trillion yen, up 19.9 percent.

For the September-May period, the company logged a net profit of 84.84 billion yen, down 4.1 percent from a year earlier. Its operating profit grew 9.9 percent to 136.29 billion yen on sales of 1.09 trillion yen, up 22.8 percent.

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Source: Japan Economic Newswire

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