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Fast Retailing profit up 30% from year before

Reuters file photo

Clothes are shown at a GU shop, owned by Fast Retailing, in Osaka in October 2017.

Jiji PressTOKYO (Jiji Press) — Fast Retailing Co. said Thursday that its group operating profit in September-February surged 30.5 percent from a year earlier to ¥170,492 million, thanks to its Uniqlo casual clothing store chain’s strong performances overseas.

For the first half of the business year through August, the clothing retailer reported sales of ¥1,186,765 million, up 16.6 percent.

The group beat its midyear earnings projections for all overseas areas, with its North American business showing a notable improvement.

In Japan, sales of Heattech and other autumn-winter products grew in particular.

Fast Retailing upgraded its full-year sales forecast to ¥2,110 billion and its operating profit projection to ¥225 billion. Both would be the highest on record.

The company expects annual sales at Uniqlo stores overseas to outpace domestic sales for the first time.Speech

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