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Bloomberg
Fast Retailing Co’s profit fell short of analyst estimates as weakness in the Uniqlo owner’s home market of Japan overshadowed a strong showing in overseas markets, particularly China.
Operating profit rose to 74.8 billion yen ($692 million) in the three months ended on May 31, according to a statement from Asia’s largest retailer. That compares with analysts’ average estimate of 79.4 billion yen.
The results show Japan’s domestic market still has a huge influence on Fast Retailing’s fortunes.
Domestic results were weighed down as the company shifted a sales event to
June, causing Uniqlo’s Japan revenue to fall 0.5 percent for the quarter.