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Uniqlo gains on Zara for apparel market cap crown

Investors cheer Fast Retailing's strength in China

The Uniqlo Tokyo will open Friday in the capital's upscale Ginza district. (Photo by Masayuki Kozono)

TOKYO -- Fast Retailing, the Japanese operator of the casual clothing chain Uniqlo, has narrowed the gap against Zara, the global apparel leader in market value, as investors applaud the company's major presence in China.

While apparel sales are down sharply in the U.S. and Europe, Zara's main markets, as the coronavirus pandemic takes its toll, the decline is relatively mild in Asia where Fast Retailing is focused on. Their share prices appear to be factoring in this reality.  

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