Uniqlo owner’s shares rise on earnings prediction

CHINA: A record quarterly profit from Uniqlo owner Fast Retailing pushed the company’s share price to its highest level this year in Tokyo trade on Friday.

One-day gains of 8.5% were the most since April 15, and it was expected to conclude at its best level since November 2021.

China, Fast Retailing’s most important international market, had severe losses in sales and profit as a result of COVID-19 limitations on movement and operations, the company claimed.

As the yen falls to a 24-year low of 139 to the U.S. dollar, the value of foreign earnings can be brought back to Japan at a higher rate.

Related Posts

A Smartkarma expert tells Smartkarma that “China, for obvious reasons, was a headwind, but the steady improvement in all other regions was excellent,” he says.

“It was a prosperous quarter for the U.S. and European areas. Our expectations for Uniqlo’s future growth in the United States are high now that the company appears to have found a successful product market fit here,” she said.

The company reported a 37 percent increase in operating profit for the three months ending in May to 81.8 billion yen ($587.4 million), an all-time high.

To 290 billion yen, the business increased its full-year operating profit forecast by 17%.

Noto

Jakarta-based Newswriter for The Asian Affairs. A budding newswriter that always keep track of the latest trends and news that are happening in my country Indonesia.

Recent Posts

V Surprises ARMY with Two Holiday Releases: A Festive Collab with Park Hyo-shin and “White Christmas” Cover

For K-pop fans, the Christmas season this year has become even more magical as several of their preferred stars reveal…

November 22, 2024

Celine Names TWS as Global Ambassadors Following Suzy Bae Announcement

After Suzy Bae's nomination as Celine's worldwide ambassador, the venerable French luxury fashion company has taken another bold step choosing…

November 22, 2024

Reddit Faces Widespread Outage, Users Turn to Workarounds Amid ‘Server Error’ Messages

Thousands of users of the well-known social network Reddit were left without access after a major outage of the website.…

November 22, 2024

Anne Hathaway Casted as ‘Verity’ in Colleen Hoover’s Book Adaptation

Anne Hathaway is slated to play the much expected film version of Colleen Hoover's best-selling book Verity in front of…

November 21, 2024

Gucci Set to Revolutionize Fashion Presentations with Unified Shows in 2025 under Sabato De Sarno’s Vision

Gucci is ready to change its presentation approach for 2025 in a radical action aimed to revolutionize the fashion industry.…

November 21, 2024

South Korea’s “Korea Discount”: Addressing the Governance Gap to Boost Market Value

As world investors wait for significant changes that might solve long-standing problems of governance and responsibility in South Korea's companies,…

November 21, 2024

This website uses cookies.

Read More