Uniqlo owner Fast Retailing forecasts strong recovery from pandemic hit

For the year just ended, it reported a 149 billion yen ($1.42 billion) operating profit, down 42% from a year earlier but beating the market's consensus forecast of 137 billion yen according to Refinitiv data.

TOKYO: Japan's Fast Retailing, owner of casual fashion brand Uniqlo, forecast a stronger-than-expected 64% surge in operating profit in the year through next August, recovering from a slump in the previous year due to the global pandemic.

For the year just ended, it reported a 149 billion yen ($1.42 billion) operating profit, down 42% from a year earlier but beating the market's consensus forecast of 137 billion yen according to Refinitiv data.