Fast Retailing profit surges, raises full-year guidance

Tokyo -- Japan’s Fast Retailing Co., parent of Uniqlo, reported Thursday that its net profit for the Sept.-Feb. period surged 38.7% to $705 million as an usually cold weather bolstered sales at Japan stores. Same-store sales in the period rose 2.3%. The company lifted its full-year profit forecast to $1.7 billion from a previously announced $1.6 billion for the fiscal year ending in August, surpassing analysts’ projections. Revenues at Uniqlo overseas locations surged 45% in the first half, thanks to strong sales growth in China and Hong Kong, and 53 more outlets overseas than the previous year. Fast Retailing