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Fast Retailing Tumbles Most in Two Years on Poor Earnings

Uniqlo U.S. and J Brand losses hurt earnings last fiscal year
Company has seen rising sales contribution from overseas

A customer stands in front of a display shirts in a variety of colors inside a Uniqlo store in Berlin. — A customer stands in front of a display shirts in a variety of colors inside a Uniqlo store in Berlin.
Photographer: Krisztian Bocsi/Bloomberg

By

Monami Yui

October 8, 2015, 6:18 AM UTCUpdated onOctober 9, 2015, 6:21 AM UTC

Fast Retailing Co. fell the most in more than two years after earnings and forecasts missed analyst estimates due to losses at its Uniqlo and J Brand businesses in the U.S.

The shares tumbled 9.8 percent to close at 43,900 yen in Tokyo, the steepest decline since May 2013. The Yamaguchi, Japan-based company said Thursday that net income will probably rise 4.5 percent to 115 billion yen ($957 million) in the year ending August 2016, compared with the 141.6 billion-yen average of 14 analyst estimates compiled by Bloomberg.