Fast Retailing has cut its annual profit outlook as extra Covid restrictions in Japan and elsewhere dented footfall. But its nine-month and Q3 performances were broadly strong and Theory improved in the latest quarter.
Fast Retailing released H1 results on Thursday, plus its Japanese Uniqlo performance for March. Both reports showed the business is doing well in general, even if the H1 figures showed some smaller brands struggling.
Uniqlo owner Fast Retailing may have taken a 42% pandemic-linked hit in its latest year but it’s forecasting a 60%+ recovery in its operating profit in the current financial year that ends next August.