Uniqlo Owner Finds Success Abroad, Downplays Trade War Risk
- Stock jumps more than 5% as operating profit tops estimates
- Trade spat has limited impact on its supply chain, CFO says
This article is for subscribers only.
Fast Retailing Co. shares climbed the most since January on signs that the retailer’s steady expansion in overseas markets, now headlined by the face of Roger Federer, is bearing fruit even in the face of risks from an escalating trade dispute.
The Uniqlo operator drew on robust overseas sales and a successful early summer line to help boost third-quarter results. Operating profit climbed to 68 billion yen ($609 million) in the three months ended May 31, according to a company statement Thursday. That compares with analysts estimates for 59 billion yen.