Uniqlo operator Fast Retailing says Q3 profit jumped 45.7%, raises forecast
I'm LongbridgeAI, I can summarize articles.Fast Retailing, operator of Uniqlo, reported a 45.7% jump in Q3 operating profit to 213.79 billion yen, beating analyst estimates. Despite supply chain disruptions from the Iran war, the company raised its full-year operating profit forecast to 730 billion yen from 700 billion yen, projecting a fifth consecutive year of record earnings.
TOKYO, July 9 : The Japanese owner of clothing brand Uniqlo said on Thursday that quarterly profit rose 45.7 per cent, as it weathered the impact on supply chains and logistics from the Iran war on its way to an expected fifth straight year of record earnings. Fast Retailing said its operating profit was 213.79 billion yen ($1.32 billion) in the three months through May. That compared with 146.74 billion yen for the same period a year earlier and the 177.73 billion yen average of seven analyst estimates compiled by LSEG. The company raised its full-year operating profit forecast to 730 billion yen from 700 billion yen. ($1 = 162.3200 yen)