Fast Retailing tumbles to five-month low after cutting guidance

TOKYO Thu Apr 10, 2014 8:18pm EDT

The Uniqlo store logo is pictured on the side of the 5th Ave Flagship store in the Manhattan borough of New York February 21, 2014. REUTERS/Carlo Allegri

The Uniqlo store logo is pictured on the side of the 5th Ave Flagship store in the Manhattan borough of New York February 21, 2014.

Credit: Reuters/Carlo Allegri

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TOKYO (Reuters) - Shares in Fast retailing Co Ltd (9983.T) tumbled 6.5 percent to a five-month low of 34,340 yen on Friday morning after the operator of the Uniqlo casual clothing chain cut its full-year operating profit forecast by 6.7 percent.

The biggest fashion retailer in Asia blamed the change in guidance on below-expectations sales of its Uniqlo brand in Japan.

The stock was the most-traded on the main board and the biggest contributor to a drop in the benchmark Nikkei average .N225, which was down 2.8 percent.

(Reporting by Dominic Lau; Editing by Edmund Klamann)

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