Fast Retailing raises forecast as H1 profit jumps 24%
18 Apr '06
1 min read
Fast Retailing Co, the operator of Uniqlo-brand clothing chain, has increased its full-year guidance after posting a 18 percent jump in sales to 238.6 billion yen for the first half ended 28th February 2006, as sale of women's clothing jumped 10.3 percent from a year earlier.
The company also reported a 24 percent rise in net income to 26.5 billion yen for the six months ended 28th February 2006 compared with 21.3 billion yen, a year earlier.
The company raised its full-year profit guidance 5.5 percent and sales goal 2.3 percent. Lower markdowns in price and good winterwear sales helped boost results, the company stated.
Fast Retailing Co Ltd - The Group's principal activity is to operate a chain of stores specializing in in-house brand casual wears. Tadashi Yanai, current Chairman of the Group, is the major shareholder with 26.68 percent of issued stock.
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