Uniqlo operator Fast Retailing posts 32% rise in full-year profit

Japan's Fast Retailing, the parent company of global clothing brand Uniqlo, reported a 32% increase in full-year profit for the fiscal year ending August 31, 2023. The apparel maker's operating profit reached 743.13 billion yen ($4.70 billion), a significant rise from 564.3 billion yen in the previous year. This growth was largely attributed to overseas expansion, which offset the impact of a weaker yen domestically.

Fast Retailing's forecast for the upcoming year was 830 billion yen, surpassing both the company's own estimate and the average analyst prediction.