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Uniqlo owner Fast Retailing reports 5.6% rise in Q1 profit, beats estimates -Breaking

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© Reuters. FILE PHOTO – Clothes from the collaboration label +J, Uniqlo and Jil Sander are on display at Uniqlo’s Tokyo press room, Japan, November 6, 2020. REUTERS/Ritsuko Ando/File Photo

TOKYO (Reuters), Japan’s Fast Retailing has reported that Uniqlo’s first quarter operating profit increased 5.6% compared to the prior year. The increase was due in part to strong sales from Europe, North America, and South Asia.

The profit increased to 119.4 Billion Yen ($1.04 Billillion) during the three months ended Nov. 30, Market consensus was for 102.6 trillion yen. Refinitiv’s average analysts forecasts showed this.

($1=114.5700 yen)

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