Clothing company Fast Retailing has reported a 17.4% jump in sales to JPY346.1bn (US$2.95bn) from JPY294.8 last year for the nine months ended in May.

Net profit, meanwhile, was up 32% to JPY35.7bn from JPY27.1m.

The company currently expects full-year net sales of JPY444.9bn, a 15.9% increase from last year, and net income of JPY40bn, an 18% increase.

Following its entry into the US market in Autumn 2005, the company is continuing preparations to open a large flagship store of around 3300 square metres in New York.

The company expects its US Uniqlo business to generate a loss of JPY1bn in the full year from costs connected with the new store.