April 11, 2019 / 6:22 AM / 6 months ago

Uniqlo owner Fast Retailing cuts full-year outlook

TOKYO, April 11 (Reuters) - Uniqlo owner Fast Retailing Co cut its full-year outlook, hurt by heavy discounts on winter clothes after a warm winter and losses stemming from its weak overseas brands.

For the full year through August, it forecast an operating profit of 260 billion yen, down from its previous forecast of 270 billion yen.

Its operating profit for the second fiscal quarter rose to 68 billion yen from 57 billion yen a year earlier, helped by strong growth in China and its online business.

That beat the market’s consensus for 64 billion, according to Refinitiv data compiled from six analysts’ forecasts. (Reporting by Ritsuko Ando; Editing by Himani Sarkar)

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