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Uniqlo still paying the price for its hikes

Uniqlo's flagship store in Tokyo

TOKYO -- After raising prices two years in a row, Uniqlo hoped recent reductions on certain items would bring back some of the shoppers it had driven away. So far, not so good: The Japanese casualwear chain saw domestic customer traffic fall 8.6% on the year in March, on a same-store basis.

     Sales dropped by 0.3%, the first on-year drop in three months, parent Fast Retailing said on Monday.

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