Uniqlo owner seen posting 11% profit bump on Q2 overseas sales
TOKYO - The Japanese operator of global clothing heavyweight Uniqlo is expected to post a stronger quarterly profit on Thursday as its overseas units make up for slowing growth at home.
The increase builds the first quarter, when Fast Retailing posted a 25% jump in earnings on the back of strong results in China, its biggest foreign market. "This optimism is fuelled by several factors, including the ongoing recovery of the Uniqlo business in China and South Korea, robust same-store sales performance across the Asia, India, and Oceania regions, and the impressive sales volume of apparel observed in the US in December 2023," he wrote in a report on the Smartkarma platform.
The yen's slide to a near 34-year low is also a tailwind for Fast Retailing, which gets more than half its revenue from outside Japan.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events.
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