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Japan's Fast Retailing sees 13.4 percent profit rise on foreign expansion
October 12, 2017 / 6:13 AM / 11 days ago

Japan's Fast Retailing sees 13.4 percent profit rise on foreign expansion

TOKYO, Oct 12 (Reuters) - Japan’s Fast Retailing Co Ltd , owner of clothing chain Uniqlo, forecast on Thursday a 13.4 percent rise in operating profit for the current financial year on the back of strong growth in Asia.

Asia’s biggest clothing retailer said it expects operating profit to come in at 200 billion yen ($1.78 billion) for the year through August on an 10.1 percent rise in sales.

Profit for the year just ended grew 38.6 percent to 176.4 billion yen, as brisk business at Uniqlo’s overseas stores offset a lacklustre performance domestically. That compared with a 180 billion yen Thomson Reuters Starmine SmartEstimate, based on estimates of 16 analysts. ($1 = 112.2700 yen) (Reporting by Sam Nussey; Editing by Edwina Gibbs)

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