Fast Retailing39;s profit likely rose 24 to 478.3 billion yen
Key factors Japan39;s fallwinter sales, China business recovery
Shares up 43 in 2024, outperforming Nikkei39;s 16 rise

TOKYO, Oct 9 Reuters The Japanese owner of casual wear giant Uniqlo is projected to beat its own forecast in what would be a third straight year of record profits as its brand makes inroads in western markets and its business in China recovers.

Fast Retailing39;s operating profit in the 12 months through August likely rose 24 from a year earlier to 478.3 billion yen, based on the average of 15 analyst estimates compiled by LSEG ahead of the company39;s earnings on Thursday.

That39;s marginally higher than the company39;s 475 billion yen forecast, which it lifted in July citing a strong performance in the second half.

Fast Retailing39;s shares have been on a tear, reaching a record high this week. Key factors going forward will be sales of fall and winter items in Japan and whether the company can reinvigorate its business in China, according to independent analyst Mark Chadwick.

Investor attention will turn to whether Fast Retailing39;s measures in Greater China successfully reverse the earnings decline caused by weak consumer sentiment and increased competition, Chadwick wrote on the Smartkarma platform.

With more than 900 stores in China, Fast Retailing has long been seen as a bellwether for the retail sector in the world39;s secondbiggest economy. COVID restrictions weighed on…