|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's range||528.00 - 528.00|
|52-week range||454.02 - 750.00|
|Beta (5Y monthly)||0.89|
|PE ratio (TTM)||34.66|
|Forward dividend & yield||4.94 (0.98%)|
|Ex-dividend date||30 Aug 2022|
|1y target est||N/A|
TOKYO (Reuters) -The owner of Japanese clothing brand Uniqlo on Thursday flagged a big profit drop in China due to COVID-19 restrictions, while its chief executive sounded alarm about the weakening yen's potential to drive up costs. Fast Retailing is a rare bellwether for both global retailers in China, its biggest foreign market, and consumer demand in Japan, where it has carved out a dominant position by offering casual clothing to famously price-conscious shoppers. It and other multi-national retailers are now being forced to deal with lockdown measures in China.
TOKYO (Reuters) -Uniqlo owner Fast Retailing Co and Japan Tobacco Inc on Thursday said they would suspend some operations in Russia, in a U-turn by the Japanese consumer giants which had indicated they would stay in the market after Moscow's invasion of Ukraine. The two companies were notable stand outs among major brands, saying they would continue doing business in Russia amid the imposition of massive trade and banking sanctions. Tadashi Yanai, the founder of Fast Retailing had told Japanese media that the company would continue operating its 50 stores in Russia because "clothing is a necessity of life".
Clothing retailer Uniqlo will have to raise prices of some products due to higher costs for raw materials and shipping, its owner said on Thursday, becoming a high-profile example of Japanese firms throwing off a decades-old deflationary trend. The comments from Fast Retailing, which reported a near 6% rise in quarterly operating profit thanks to a strong showing in overseas markets outside of China, come as more Japanese firms say they can no longer offset soaring costs with belt-tightening. Years of stagnant prices and wages have made Japan Inc nervous about charging more for fear of alienating shoppers and losing market share.