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Uniqlo to Rein in US Store Openings After Missing Profit Guidance

Japanese clothing firm Fast Retailing Co said on Thursday it would open fewer US stores for its core Uniqlo brand this year after a rapid expansion failed to entice customers, leading to a lower-than-forecast annual profit.
Fast Retailing’s shares have climbed 20 percent this year as Japan’s weak currency helps to lift reported profits and the impact of the pandemic and war in Ukraine recede.
Fast Retailing’s shares have climbed 20 percent this year as Japan’s weak currency helps to lift reported profits and the impact of the pandemic and war in Ukraine recede. (Shutterstock)
By
  • Reuters

TOKYO, Japan

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