JAPAN: Fast Retailing enjoys 17% 9-month sales growth
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.
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