Fast Retailing tumbles to five-month low after cutting guidance
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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