Things keep getting better for Uniqlo owner. Fast retailing
. The Japanese firm already expected a third straight year
of record profits. But on Thursday, it raised
its outlook even higher. The company now expects full
year operating profit to hit almost$3 billion. Fast
retailing says Unico did well at home. And in
North America, Europe and Southeast Asia, the brand
known for quality affordable basics is also getting a boost
from the weak yen that lifts the value of sales
made overseas. Uniqlo is now plotting rapid expansion in
markets including China. It thinks it can benefit from
a post pandemic shift among consumers from luxury to value
for the three months to the end of may profits
jumped by almost a third beating forecasts. Fast retailing
shares are up close to 30% this year. Roughly
matching the surge for Japan's benchmark, Nikkei index.