Uniqlo owner posts record profits in Q3

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Uniqlo has trounced analysts’ expectations by boasting stellar profit growth over its third quarter, sending its shares rallying.

Fast Retailing, Uniqlo’s parent company, reported a 37 per cent rise in operating profits to 68.4 billion yen (£462 million), coming comfortably above average analysts’ expectations of 59.1 billion yen (£400 million).

This record-breaking figure was driven by double digit sales same-store sales growth across China, South East Asia and Oceania.

Home sales also grew, with Uniqlo’s store sales growth across its 800 Japanese stores hitting eight per cent.

Tennis star Roger Federer, who was recently included in Sports Illustrated’s list of the top-50 most fashionable athletes, recently dropped his Nike sponsorship for Uniqlo in a deal understood to be worth £300 million.

The fashion retailer saw its stock prices jump nearly six per cent in morning trading following the report.

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