Uniqlo owner posts 27% profit rise on China recovery

CFO says Chinese consumers are becoming more price-sensitive

20240111 uniqlo

Fast Retailing said its revenue rose 13% year-on-year for the three months ended in November. (Photo by Suzu Takahashi)

WATARU SUZUKI, Nikkei staff writer

TOKYO -- Fast Retailing, the owner of the clothing chain Uniqlo, said Thursday that net profit for the three months ended November 2023 rose 27% from a year earlier to 107.8 billion yen ($740 million), thanks to recovery in China. 

The figure for its fiscal first quarter beat analyst expectations of 98 billion yen, according to S&P Capital IQ. 

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