TOKYO (Reuters) – Japan’s Fast Retailing Co, owner of clothing brand Uniqlo, reported on Thursday that first quarter earnings slid 2% following last year’s record figure.
A day after announcing plans for big wage rises, the company said operating profit had been 117.1 billion yen ($889.82 million) in the three months to November 2022, compared with 119.4 billion yen a year earlier.
The consensus forecast was for 135.3 billion yen, according to the average of five analyst estimates collected by Refinitiv.
The company estimated full-year earnings to reach 350 billion yen.
Fast Retailing’s share price slid 2% in Tokyo trade, compared to a flat benchmark Nikkei index.
($1=131.6000 yen)
(Reporting by Rocky Swift; Editing by Clarence Fernandez)
