financetom
Business
financetom
/
Business
/
Uniqlo operator Fast Retailing's Q2 profit jumps 33%; raises forecast
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Uniqlo operator Fast Retailing's Q2 profit jumps 33%; raises forecast
Apr 10, 2025 12:17 AM

TOKYO, April 10 (Reuters) - The Japanese operator of

Uniqlo on Thursday said earnings soared 33% in its second

quarter, the last period of calm before the U.S. imposition of

import tariffs clouded the global clothing chain's aim for a

fourth successive year of record profit.

Fast Retailing ( FRCOF ) said operating profit was 146.7

billion yen ($999.9 million) for the three months through

February. That compared with 110.4 billion yen for the same

period a year prior and the 125.9 billion yen average of six

analyst estimates compiled by LSEG.

The company raised its full-year operating profit forecast

to 545 billion yen from a previous guidance of 530 billion yen.

From one store 40 years ago in Hiroshima, western Japan,

Uniqlo has grown to more than 2,500 locations worldwide, selling

inexpensive fleeces and cotton shirts made primarily in China

and other Asian manufacturing hubs.

That business model now stands at odds with sweeping tariffs

that were announced and then delayed by U.S. President Donald

Trump, whipsawing global markets and prompting retaliation from

trading partners.

Trump last week announced massive tariffs on dozens of

countries, including a 24% duty on non-automobile products from

Japan. He backtracked on Wednesday, pausing the measures for 90

days, but kept pressure on China by raising tariffs on that

nation's goods to 125% from 104%.

Fast Retailing ( FRCOF ) has in recent years looked to North America

and Europe for growth due to a slowing economy in China, its

largest overseas consumer market with more than 900 Uniqlo

stores on the mainland.

The majority of Uniqlo products sold in the United States

are produced in Southeast Asia.

Founder Tadashi Yanai, Japan's richest man, has long

been an advocate of free trade and has defended the company's

business with China amid criticism of human rights abuses on the

mainland.

($1 = 146.7100 yen)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
DOJ watchdog says silence is not 'consent' in Container Store bankruptcy
DOJ watchdog says silence is not 'consent' in Container Store bankruptcy
Jan 21, 2025
* Container Store ( TCSGQ ) debt deal would provide legal shield to lenders, executives * DOJ watchdog says opt out forms cannot obtain consent in bankruptcy * Bankruptcy courts have grappled with consent after Purdue ruling By Dietrich Knauth Jan 21 (Reuters) - A Department of Justice watchdog on Tuesday challenged a popular Texas bankruptcy court's practice of approving...
Masimo Names Former Becton Dickinson Executive as CEO, Katie Szyman Takes Over for Board Chair Michelle Brennan
Masimo Names Former Becton Dickinson Executive as CEO, Katie Szyman Takes Over for Board Chair Michelle Brennan
Jan 21, 2025
05:06 PM EST, 01/21/2025 (MT Newswires) -- Masimo ( MASI ) late Tuesday said Katie Szyman has been selected as the new chief executive officer at the medical device company, succeeding interim CEO Michelle Brennan, who was appointed to be the new chair of Masimo's ( MASI ) board of directors. Both moves take effect on Feb. 12, the company...
Pinnacle Financial Partners Q4 Adjusted Earnings, Revenue Rise; Quarterly Dividend Raised
Pinnacle Financial Partners Q4 Adjusted Earnings, Revenue Rise; Quarterly Dividend Raised
Jan 21, 2025
05:10 PM EST, 01/21/2025 (MT Newswires) -- Pinnacle Financial Partners ( PNFP ) reported Q4 adjusted earnings late Tuesday of $1.90 per diluted share, up from $1.68 a year earlier. Analysts polled by FactSet expected $1.78. Revenue for the quarter ended Dec. 31, expressed as the sum of net interest income and non-interest income, was $475.3 million, up from $396.3...
Ex-Pioneer CEO sues FTC for banning him from Exxon board
Ex-Pioneer CEO sues FTC for banning him from Exxon board
Jan 21, 2025
(Reuters) - Former Pioneer Natural Resources CEO Scott Sheffield sued the U.S. Federal Trade Commission on Tuesday, saying it violated the law by barring his inclusion on Exxon Mobil's ( XOM ) board when the company acquired Pioneer in a deal worth $59.5 billion. The lawsuit filed in Fort Worth, Texas, seeks to overturn the FTC's order from May 2024....
Copyright 2023-2025 - www.financetom.com All Rights Reserved