About: http://data.cimple.eu/news-article/497ce1f0194cec1db55308f1b6c2af2a0009c64c203090100b92bafc

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About: http://data.cimple.eu/news-article/497ce1f0194cec1db55308f1b6c2af2a0009c64c203090100b92bafc Goto Sponge NotDistinct Permalink

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rdf:type	schema:NewsArticle
schema:articleBody	Uniqlo's parent company Fast Retailing said Thursday it expects a stronger rebound in full-year operating profit driven by a solid performance in East Asian countries hit less hard by virus lockdowns. The Japanese clothing empire forecast 2020/21 operating profit of 255 billion yen ($2.3 billion) -- up slightly from its previous estimate of 245 billion yen. That marks a rise of 70.7 percent from the year before, when business began to be hit worldwide by the Covid-19 pandemic with many shops forced to close for extended periods. In the first six months of this financial year, Fast Retailing logged a 0.5 percent dip in revenue year-on-year to 1,202.8 billion yen. But operating profit in the same period was up 22.9 percent from 2019/20 at 167.9 billion yen. "Performance in most regions of Uniqlo International, as well as within Global Brands, reported declines in revenue and profits due to the severe impact of Covid-19," the firm said in a statement. "However, a strong rise in profit at Uniqlo Japan and in the Uniqlo Greater China region, both of which saw a more limited impact from the pandemic, contributed to the increase in group consolidated profit." After years of aggressive expansion, Fast Retailing is vying to be the world's most valuable clothing firm, challenging Spanish fast-fashion giant Inditex -- which owns Zara -- for the top spot. Earlier this year the Japanese group's market capitalisation overtook that of Inditex for the first time, but it has since fallen back behind. Fast Retailing said Thursday it would continue to open new stores and expects to have 2,337 Uniqlo stores worldwide by the end of August, of which 813 will be in Japan. The group also owns fashion retailer Theory and French brands Comptoir des Cotonniers and Princesse Tam Tam. kaf/dan
schema:headline	Uniqlo operator Fast Retailing raises profit outlook
schema:mentions	Market capitalization Fast fashion Zadar Asia Spain Japan Pandemic Virus Coronavirus disease 2019 Comptoir des Cotonniers Princess Tam Tam Japanese clothing Greater China Inditex Uniqlo Fast Retailing Top Spot Economy of Japan Microsoft Outlook Japanese yen
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2021-04-08 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	negative sentiment
http://data.cimple...readability_score	65 (xsd:integer)
http://data.cimple...tology#hasEmotion	happiness

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