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Investing.com -- Fast Retailing, the Japanese operator of Uniqlo, reported a 33% surge in its second-quarter earnings and revised its full-year forecast upwards. This optimistic outlook was announced despite the potential impact of U.S. tariffs on its global clothing operations.
The company posted an operating profit of 146.7 billion yen ($999.9 million) for the three months through February. This figure represents a significant increase from the 110.4 billion yen earned in the same period the previous year and surpasses the 125.9 billion yen average of six analyst estimates compiled by LSEG.
Fast Retailing also updated its full-year operating profit forecast, raising it to 545 billion yen from the previous guidance of 530 billion yen.
The company's strong performance was attributed to robust sales both in Japan and in its international segments during the first half of the year. This growth helped to offset the impact of shrinking revenue and profit in mainland China.
Fast Retailing also stated that while profit in North America is expected to decrease in the second half of the year due to tariffs, the impact will be limited. The company has already shipped a substantial amount of goods to the United States, which will help mitigate the effects of the tariffs, according to a company statement.
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