TOKYO Jan 12 Japan's Fast Retailing Co Ltd
, the owner of the Uniqlo casual wear brand, on Thursday
said its first-quarter operating income rose 16.7 percent from a
year ago on increased sales and domestic cost-saving measures.
Operating profit for the three months ended Nov. 30 rose to
88.59 billion yen ($774.3 million), versus a profit of 75.9
billion yen a year ago.
The results were mostly in line with the expectations of
four analysts who, on an average, had pegged quarterly operating
profit at 88.84 billion yen, Thomson Reuters data shows.
Fast Retailing reiterated its operating profit forecast for
the year to August at a record high of 175 billion yen. That
compares with an average of 177.3 billion yen predicted by 18
analysts surveyed by Thomson Reuters.
($1 = 114.4100 yen)
(Reporting by Thomas Wilson and Tim Kelly; Editing by Himani