Uniqlo owner Fast Retailing posts 31% rise in yearly profit, beats estimate

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Uniqlo owner Fast Retailing posts 31% rise in yearly profit, beats estimate - Business Standard

Quick Summary:

Fast Retailing's operating profit rose 31 per cent to 500.9 billion yen ($3.35 billion) in the 12 months through August from 381.

A tourism boom in Japan has led to a surge in duty free shopping, while revenue from its push into Western markets gets an added boost when translated back into yen.

That compared with the 478.3 billion yen average of 15 analyst estimates compiled by LSEG, and the company's own forecast of 475 billion yen.