FAST RETAILING

Fast Retailing posted a record annual profit and forecast further profit growth. Despite the positive numbers, the stock fell about 4 percent. The news came amid largely positive sentiment across Asian markets. » Altro su finanzen.net

Fast Retailing reported record fiscal results with revenue up 16.6% to $25.1bn and net profit up 25.3%, driven by a 26.2% rise in international revenue and strong gains in North America and Europe. For the first time combined U.S. and European revenue exceeded Greater China, and management aims to grow annual revenue in North America and Europe to about $6.3bn each within five years while increasing larger, high-quality Uniqlo stores. Inditex remains substantially larger, leaving questions about whether Fast Retailing can sustain double-digit growth as it scales in the U.S. » Altro su forbes.com

Fast Retailing’s stock fell 3.4% to ¥68,030, marking the lowest level since April 9, after Uniqlo Japan reported weaker like-for-like sales for August. Like-for-like sales (including online) fell 1.3% year-on-year, while total sales declined 2.2%; customer numbers dropped 9.1%, but average spend per customer rose 8.6%. The company cited cooler temperatures and adverse weather conditions as reasons; temporary store closures in regions affected by earthquakes and heavy rain were excluded from the calculations. Year-to-date through August, Uniqlo Japan’s like-for-like sales remain up 5.1% and total sales are up 5.5%. » Altro su de.investing.com