Fast Retailing Raises Profit Outlook for This Fiscal Year

By Megumi Fujikawa

TOKYO--Fast Retailing raised its profit outlook for the fiscal year ending August 31 amid strong growth in overseas sales.

The Japanese owner of the Uniqlo clothing brand said Thursday that its profit would likely rise 23% to 365 billion yen ($2.26 billion) on sales of Y3.07 trillion this fiscal year. In its previous projections released in April, it had expected its revenue to increase to Y3.03 trillion and net profit to rise to Y320 billion.

For the nine months ended May 31, the apparel retailer's net profit increased 31% compared with the same period a year earlier to Y312.84 billion.

Write to Megumi Fujikawa at [e-mail]

(END) Dow Jones Newswires

07-11-24 0252ET