Fast Retailing's Q1 Profit Rises 25% on Strong Overseas Sales

Uniqlo operator on track for third year of record earnings, with significant growth in China and expansion plans in North America.

Fast Retailing, the operator of Uniqlo, reported a 25% increase in first quarter operating profit, driven by strong overseas sales.
The company is on track for a third consecutive year of record earnings, with a Q1 profit of ¥146.7 billion ($1.01 billion).
Uniqlo's business in mainland China, the company's largest foreign market, saw a significant increase in revenue and profit in the first quarter.
Fast Retailing plans to open 20 new stores in the United States and Canada in 2024, adding to the existing 72.
The company is facing potential challenges due to climate change, as unusually warm conditions may affect the sales of seasonal items.