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Japan's Fast Retailing (TYO:9983), the parent company of Uniqlo, reported a strong rise in Q3 profits, driven by robust sales and effective cost management.
The company’s operating profit surged by 29% to 144.7 billion yen ($894.81 million) for the three months ending May 31, compared to 112.5 billion yen in the same period last year. This result exceeded analysts' expectations, which were forecasted at 127.1 billion yen, based on a poll conducted by LSEG.
Due to this impressive performance, Fast Retailing has revised its full-year profit forecast upward. The company now expects to achieve 475 billion yen in profit, up from its previous estimate of 450 billion yen. This optimistic outlook reflects the brand's strong market position and successful business strategies.
Uniqlo's continued popularity and expansion efforts have played a key role in driving these financial gains. As Fast Retailing continues to grow, the company remains committed to innovating its product offerings and expanding its global presence.
