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Fast Retailing Forecasts Full-Year Profit to Rise 37 Percent

The owner of the Uniqlo casual-wear chain is recovering from a slump in the last fiscal year by committing to lower prices to win back customers.
Source: Uniqlo
By
  • Bloomberg

YAMAGUCHI, Japan —Fast Retailing Co. forecast full-year operating profit will improve 37 percent as the owner of the Uniqlo casual-wear chain recovers from a slump in the last fiscal year by committing to lower prices to win back customers.

Operating income will probably be ¥175 billion ($1.7 billion) in the fiscal year ending August 2017, compared with ¥127.3 billion in the previous period, the Yamaguchi, Japan-based company said in a statement Thursday. That's in line with the ¥174.9 billion average of 14 analyst estimates compiled by Bloomberg.

By Grace Huang; editors: K. Oanh Ha, Daryl Loo and Dave McCombs.

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