Uniqlo parent Fast Retailing posts record 9-month net profit

Japanese retailers cash in on demand in China for clothes, household goods

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Fast Retailing's consolidated sales for the first nine months of its fiscal year came to 2.1 trillion yen, up 21% from the year-earlier total. © Reuters

NATSUMI KAWASAKI, Nikkei staff writer

TOKYO -- Uniqlo owner Fast Retailing reported a net profit of 238.5 billion yen ($1.7 billion) for the nine months through May, beating the previous year's record of 237.8 billion yen for the period.

The figure topped the FactSet consensus forecast that the company's net profit would come in 7% lower on the year, at 220 billion yen.

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