TOKYO Oct 13 Uniqlo operator Fast Retailing Co
Ltd forecast on Thursday a record operating profit for
the 2017 financial year due to an expected rise in domestic
in-store and online sales, and further growth at its stores in
China and Southeast Asia.
Asia's biggest clothing retailer by sales said it expected
operating profit to jump 37.5 percent to a record high of 175.0
billion yen ($1.70 billion) for the year ending in August 2017,
a touch higher than the average estimate of 174.2 billion yen
from 19 analysts polled by Thomson Reuters I/B/E/S/.
Operating profit at the Japanese company fell 22.6 percent
to 127.3 billion yen in the year just ended, compared with the
firm's forecast for 120 billion yen.
Full-year operating profit slid for the first time in five
years due to currency related losses, while impairment losses
linked to its J Brand brand and store closures at home and in
the United States also weighed on the company's bottom line.
($1 = 102.9000 yen)
(Reporting by Naomi Tajitsu; Editing by Muralikumar