Uniqlo owner posts 72% jump in 9-month operating profit

Women wearing face masks walk through a store of Fast Retailing’s fashion chain Uniqlo at a shopping complex in Beijing, China, on May 24, 2020, in the aftermath of the coronavirus illness (COVID-19) outbreak. Florence Lo/REUTERS (Reuters) – TOKYO, July 15 (Reuters) – On Thursday, Japan’s Fast Retailing (9983.T), which owns Uniqlo, lowered its earnings forecast for the year, citing the ongoing impact of the COVID-19 outbreak on sales. For the fiscal year ending in August, the corporation now expects an operating profit of 245 billion yen ($2.23 billion). It had expected 255 billion yen prior. Profit increased to 227.9 billion yen in the nine months ending May, up from 134.4 billion yen the year before, when the coronavirus epidemic hit severely. (1 dollar Equals 109.7400 yen) Rocky Swift contributed reporting from Tokyo, and Jacqueline Wong edited the piece. The Thomson Reuters Trust Principles are our standards./nRead More