Fast Retailing has raised its full-year operating profit outlook on?strong margins and gains driven by Uniqlo demand in the U.S. and Europe, reflecting the growing contribution of the apparel maker¡¯s international business.
The Japanese clothing company now sees operating income of ?700 billion ($4.4 billion), compared with its previous guidance of ?650 billion for the full year. That¡¯s well above analysts¡¯ average estimate of ?657 billion.
The results suggest that Uniqlo¡¯s growth will become increasingly driven by overseas markets, particularly the U.S. and Europe, while Japan remains a stable base. As Fast Retailing founder and Chief Executive Officer Tadashi Yanai pushes toward his ?10 trillion sales target with global expansion at the core, the outlook upgrade is another indication of whether that momentum can hold as demand diverges across regions.
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