Uniqlo Owner Seen Posting 11% Profit Bump On Q2 Overseas Sales

The Japanese operator of global clothing heavyweight Uniqlo is expected to post a stronger quarterly profit as its overseas units make up for slowing growth at home, Rocky Swift reported for Reuters.

Fast Retailing's operating profit in the three months through February likely rose 11% from a year earlier to 114.3 billion yen ($753.4 million), based on the average of five analyst estimates compiled by LSEG. I Photo: IQRemix Flickr

Fast Retailing's operating profit in the three months through February likely rose 11% from a year earlier to 114.3 billion yen ($753.4 million), based on the average of five analyst estimates compiled by LSEG.

The increase builds on the first quarter, when Fast Retailing posted a 25% jump in earnings on the back of strong results in China, its biggest foreign market.

The company conservatively left its forward guidance unchanged after those results, so second-quarter results may top consensus figures, according to LightStream Research analyst Oshadhi Kumarasiri.

"This optimism is fueled by several factors, including the ongoing recovery of the Uniqlo business in China and South Korea, robust same-store sales performance across Asia, India, and Oceania regions, and the impressive sales volume of apparel observed in the US in December 2023," he wrote in a report on the Smartkarma platform.

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