Uniqlo owner set for 26% profit surge on China rebound, yen slide

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Uniqlo owner set for 26% profit surge on China rebound, yen slide
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The Japanese operator of global clothing chain Uniqlo is expected to blow past last year's record profit when it reports results on Thursday, benefiting from...

TOKYO - The Japanese operator of global clothing chain Uniqlo is expected to blow past last year's record profit when it reports results on Thursday, benefiting from a recovery in China and the yen's slide.

The yen, meanwhile, has weakened about 12% versus the dollar so far in 2023, giving a boost to Japanese companies that get most of their sales outside of the country. With its Chinese operations in doldrums for more than two years, Fast Retailing has increased its focus on markets in North America and Europe.

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