Official focus on fun, fashion and energy is boosting companies specialising in reactor restarts and warm winter clothes
Japan's Fast Retailing Co, owner of clothing brand Uniqlo, is expected to post a record annual profit on Thursday as the yen's slump has boosted the value of its overseas sales even as soaring living costs dampen prospects for retailers. The company, Japan's biggest retailer, has posted strong performances in North America and Europe in the first three quarters of the fiscal year that ended in August, but investors will look for signs of a recovery in China, its biggest foreign market with nearly 900 stores. Operating profit for the fiscal year is expected to rise nearly 17% to 291 billion yen ($1.99 billion), according to an average of 12 analyst estimates from Refinitiv.
TOKYO (Reuters) -Just as inflation ravages the big guns of U.S. apparel retail, awash in high inventory and deep discounts to lure shoppers back to stores, Japan's Uniqlo is set for its best year ever in North America after a COVID-imposed revolution in its business model. Retailers from Gap to Kohl's are warning of slumping profit margins as inflation-wary customers hold off on buying clothing. Fast Retailing didn't say how much it will make from its 59 Uniqlo stores in the region, 43 of which are in the United States with 16 in Canada.