Uniqlo operator posts higher Q1 profit despite sluggish China results

Duty-free shopping lifts domestic sales, strong results in North America, Europe

20240109 uniqlo

Shoppers browse at a Uniqlo store in Tokyo on Nov. 26, 2024. © Reuters

TOKYO (Reuters) --The operator of the Uniqlo global clothing chain reported first quarter results on Thursday that trailed analyst forecasts as a sharp decline in profit in China overshadowed strong sales in its home market of Japan.

Fast Retailing said operating profit rose 7.4% to 157.6 billion yen ($996.84 million) in the three months through November from a year earlier. That was slightly below a LSEG consensus forecast of 160 billion yen drawn from six analysts.

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