business

Uniqlo owner Fast Retailing cuts full-year outlook

7 Comments

Uniqlo owner Fast Retailing Co on Thursday cut its full-year outlook, hurt by heavy discounts on winter clothes after a warm winter and losses stemming from its weak overseas brands.

For the full year through August, it forecast an operating profit of 260 billion yen, down from its previous forecast of 270 billion yen.

Its operating profit for the second fiscal quarter rose to 68 billion yen from 57 billion yen a year earlier, helped by strong growth in China and its online business.

That beat the market’s consensus for 64 billion, according to Refinitiv data compiled from six analysts’ forecasts.

© (c) Copyright Thomson Reuters 2019.

©2019 GPlusMedia Inc.

7 Comments
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Surprised. I shop their store here in Honolulu. Like their stuff.

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They are getting too expensive for clothes that last a year or two....

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I can only buy so many cheap t-shirts.

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I’m surprised. I know their clothes don’t last long, but their prices are low and their stores are constantly packed in Japan, US, and other countries I’ve seen them.

I honestly thought this might be one of the few companies that would always be on the up. They seem to be extremely popular.

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They're merely announcing a downwards revision of their predicted profit.

They're not announcing that they'll be losing money. They're far from reaching that level.

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Their jeans selection used to be great, and now very limited. 90% are slim cut while "regular" was 10% when i was there this week.. Its choices seem a lot less inclusive as before.

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Gotten expensive as the name became popular. Hope it doesn't suffer the fate of GAP.

1 ( +1 / -0 )

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