financetom
Business
financetom
/
Business
/
Uniqlo operator Fast Retailing's Q2 profit jumps 33%; raises forecast
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Uniqlo operator Fast Retailing's Q2 profit jumps 33%; raises forecast
Apr 10, 2025 12:17 AM

TOKYO, April 10 (Reuters) - The Japanese operator of

Uniqlo on Thursday said earnings soared 33% in its second

quarter, the last period of calm before the U.S. imposition of

import tariffs clouded the global clothing chain's aim for a

fourth successive year of record profit.

Fast Retailing ( FRCOF ) said operating profit was 146.7

billion yen ($999.9 million) for the three months through

February. That compared with 110.4 billion yen for the same

period a year prior and the 125.9 billion yen average of six

analyst estimates compiled by LSEG.

The company raised its full-year operating profit forecast

to 545 billion yen from a previous guidance of 530 billion yen.

From one store 40 years ago in Hiroshima, western Japan,

Uniqlo has grown to more than 2,500 locations worldwide, selling

inexpensive fleeces and cotton shirts made primarily in China

and other Asian manufacturing hubs.

That business model now stands at odds with sweeping tariffs

that were announced and then delayed by U.S. President Donald

Trump, whipsawing global markets and prompting retaliation from

trading partners.

Trump last week announced massive tariffs on dozens of

countries, including a 24% duty on non-automobile products from

Japan. He backtracked on Wednesday, pausing the measures for 90

days, but kept pressure on China by raising tariffs on that

nation's goods to 125% from 104%.

Fast Retailing ( FRCOF ) has in recent years looked to North America

and Europe for growth due to a slowing economy in China, its

largest overseas consumer market with more than 900 Uniqlo

stores on the mainland.

The majority of Uniqlo products sold in the United States

are produced in Southeast Asia.

Founder Tadashi Yanai, Japan's richest man, has long

been an advocate of free trade and has defended the company's

business with China amid criticism of human rights abuses on the

mainland.

($1 = 146.7100 yen)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Market Chatter: PDD Unit Temu to Face EU Probe Over Alleged Failure to Prevent Illegal Online Sales
Market Chatter: PDD Unit Temu to Face EU Probe Over Alleged Failure to Prevent Illegal Online Sales
Nov 3, 2024
12:50 PM EDT, 10/30/2024 (MT Newswires) -- PDD Holdings' ( PDD ) e-commerce unit Temu will likely undergo a European Union probe over its alleged failure to prevent illegal online sales under Digital Services Act, Bloomberg News reported Wednesday. This investigation could be announced soon, though the timeline might be affected by upcoming changes in EU leadership, the media outlet...
Nissan may partner with Renault on new small EV for Europe
Nissan may partner with Renault on new small EV for Europe
Nov 3, 2024
DOUAI, France (Reuters) - French automaker Renault is in talks with Nissan ( NSANF ) to help the Japanese firm bring to market its own version of Renault's electric Twingo, as the alliance partners seek to speed up an affordable EV offering to fend off Chinese competition. An electric version of Renault's popular city car, due to reach the market...
Wingstop Quarterly Earnings, Comparable Sales Miss Views; Shake Shack Tops Estimates
Wingstop Quarterly Earnings, Comparable Sales Miss Views; Shake Shack Tops Estimates
Nov 3, 2024
01:11 PM EDT, 10/30/2024 (MT Newswires) -- Shares of Wingstop ( WING ) plunged intraday Wednesday as the fast-food restaurant's third-quarter earnings missed forecasts while Shake Shack ( SHAK ) delivered a quarterly beat, sending the burger and milkshake chain's shares rallying. Wingstop's ( WING ) earnings per share advanced to $0.88 for the three-month period ended Sept. 28 from...
Sky Harbour Group Insider Bought Shares Worth $1,000,008, According to a Recent SEC Filing
Sky Harbour Group Insider Bought Shares Worth $1,000,008, According to a Recent SEC Filing
Nov 3, 2024
01:11 PM EDT, 10/30/2024 (MT Newswires) -- Alexander Buffett Rozek, Director, on Oct. 24 thru Oct. 25, 2024, executed purchases for 105,264 shares in Sky Harbour Group ( SKYH ) for $1,000,008. Following the Form 4 filing with the SEC, Rozek has control over a total of 317,337 shares of the company, with 264,705 shares held directly and 52,632 controlled...
Copyright 2023-2025 - www.financetom.com All Rights Reserved