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Asharq Al-Awsat
Asharq Al-Awsat
Lifestyle
Asharq Al-Awsat

Uniqlo Owner Expected to Post 30% Profit Rise, as Investors Eye China Results

Uniqlo China Japan Fast Retailing Covid-19 Pandemic
A shopper looks on, inside a Fast Retailing's Uniqlo casual clothing store in Tokyo, Japan January 11, 2023. REUTERS/Issei Kato/File Photo

Second-quarter results from Japan's Fast Retailing Co (9983.T), owner of clothing brand Uniqlo, will on Thursday offer a window into how rapidly demand in China is recovering after the lifting of pandemic curbs.

The company, Japan's biggest retailer, reported a 2% dip in operating profit in the first quarter, partly due to lingering effects of COVID-19 restrictions in China, its biggest overseas market. China scrapped most of its COVID curbs at the end of last year and reopened to tourists last month, Reuters reported.

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