Uniqlo owner Fast Retailing is expected to deliver a 25% jump in its third quarter profits on Thursday thanks to strong growth across all its markets.
Operating profit for the fashion retailer in the three months to 31 May likely reached £567m, up from £453m the year before, according to the average of forecasts from seven analysts surveyed by Refinitiv.
The retailer, popular for its £15 crossbody bag, raised its full-year financial outlook in April from £2.1bn to £2.2bn due to strong half-year growth in Europe and North America and a sharp increase in second-quarter profit in mainland China.
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At the time, Fast Retailing said overall performance in China, which was hit hard by the ongoing Covid restrictions, was “now on a recovery track”.
The hit to its China arm saw Fast Retailing put more focus on its European and North American operations.
Earlier this year, Uniqlo opened the doors to its Covent Garden flagship inside the Grade-II listed Carriage Hall, which features a Theory store, a repair and reuse Re.Uniqlo station and the retailer’s first in-store cafe.
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