Key facts
- Fast Retailing's Q3 operating profit rose 45.7% to 213.79 billion yen.
- The company raised its full-year operating profit forecast to a record 730 billion yen.
- Fast Retailing shares fell as much as 5.1% in early Tokyo trading.
- The company warned that the weak yen could significantly impact its fourth-quarter performance.
Fast Retailing, the operator of clothing brand Uniqlo, reported a 45.7% increase in third-quarter operating profit to 213.79 billion yen, exceeding analyst estimates and prompting the company to raise its full-year operating profit forecast to a record 730 billion yen. The company's shares have risen over 42% year-to-date. However, Fast Retailing shares slid as much as 5.1% in early Tokyo trading following the results announcement. CFO Takeshi Okazaki warned that the yen's depreciation, which has languished near a 40-year low, could significantly impact sales and profit in the fourth quarter. The company is also on track to surpass H&M in full-year sales, becoming the world's second-largest apparel retailer.