Fast Retailing posts record Q1 profit on overseas Uniqlo sales

Tokyo

JAPAN'S Fast Retailing raked in an all-time high profit in the first quarter, beating consensus estimate, buoyed by brisk business at its overseas Uniqlo clothing stores.

Fast Retailing has been pushing to expand overseas amid a patchy recovery in domestic consumer spending, in a bid to fulfil founder Tadashi Yanai's ambition to overtake H&M and Zara parent Inditex as the world's top apparel retailer. It is already Asia's biggest.