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Markets News

Uniqlo owner Fast Retailing forecasts 2021 recovery from pandemic hit

TOKYO, Oct 15 (Reuters) - Japan’s Fast Retailing, owner of casual fashion brand Uniqlo, forecast a 64% recovery in operating profit in the year through next August, following a 42% slump in the year just gone due to the global pandemic.

For the year just ended, it reported a 149 billion yen ($1.42 billion) operating profit, beating the market’s consensus foreast of 137 billion yen according to Refinitiv data. ($1 = 105.2500 yen) (Reporting by Ritsuko Ando; editing by Richard Pullin)

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