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Uniqlo owner Fast Retailing Q2 profit jumps 80 pct
April 13, 2017 / 6:16 AM / 8 months ago

Uniqlo owner Fast Retailing Q2 profit jumps 80 pct

TOKYO, April 13 (Reuters) - Japan’s Fast Retailing Co Ltd , the owner of the Uniqlo casual wear brand, on Thursday reported an 80 percent jump in second-quarter operating profit, lifted by improved profit margins and a weaker yen.

Operating profit for the three months ended February rose to 42.1 billion yen ($386 million), from 23.4 billion yen a year ago, according to calculations based on the company’s results for the first half of the fiscal year.

The results were above expectations of six analysts who, on an average, had pegged quarterly operating profit at 36.02 billion yen, Thomson Reuters data shows.

Fast Retailing reiterated its operating profit forecast for the year to August at a record high of 175 billion yen.

$1 = 109.0200 yen Reporting by Chris Gallagher and Sam Nussey; Editing by Himani Sarkar

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