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Fast Retailing, the operator of Uniqlo, is poised to reveal a robust quarterly profit this Thursday. Significant contributions from its overseas operations will compensate for the slower growth within Japan. Analyst forecasts compiled by LSEG indicate an 11% year-over-year rise in operating profit for the quarter ending in February, reaching 114.3 billion yen ($753.4 million).
A Continued Upward Trajectory
This growth, according to Yahoo, follows a notable 25% earnings increase in the first quarter, propelled by strong performances in China, Uniqlo's largest foreign market. Despite these positive results, Fast Retailing maintained a conservative forward outlook, which LightStream Research analyst Oshadhi Kumarasiri believes might lead to second-quarter figures surpassing consensus estimates.
Kumarasiri cites the recovery of Uniqlo's business in China and South Korea, robust sales in the Asia, India, and Oceania regions, and December's impressive apparel sales in the US as key factors driving optimism.
Record Results and Expansion Plans
Under the leadership of Japan's richest man, Tadashi Yanai, Fast Retailing has achieved record results in the past two years and anticipates further profit growth as it aggressively expands its international footprint. Yanai is set to discuss the company's performance and outlook in an upcoming earnings briefing.
A Bellwether in China's Retail Sector
MSN noted that with 922 stores in mainland China, Fast Retailing serves as a crucial gauge for global retailers in the world's second-largest economy. The company has witnessed a strong sales resurgence in the region, recovering from the downturn caused by COVID-19 lockdowns. Furthermore, the depreciation of the yen, nearing a 34-year low, has provided an additional boost to Fast Retailing, which generates over half of its revenue internationally.
A Stellar Market Performance
Reflecting its financial and operational successes, Fast Retailing's shares have surged 28% in 2024, outpacing the Nikkei index's 19% gain and highlighting investor confidence in the company's growth trajectory and strategic direction.
