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Uniqlo parent warns of COVID uncertainty after posting record Q1

Fast Retailing sees weak China sales until at least February, and rising costs

Uniqlo's flagship store in Ginza was renovated in September, but sales in Japan remain sluggish amid the pandemic. (Source photo by Shihoko Nakaoka)

TOKYO -- Uniqlo owner Fast Retailing reported on Thursday a record net profit of 93.5 billion yen ($816 million) for its first quarter ended in November, up 33% from the same period last year, thanks to brisk sales in Southeast Asia.

The Japanese casualwear maker posted consolidated sales of 627.3 billion yen for the three months ended Nov. 30, up 1.2 % from the previous year and "significantly above expected levels."

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