TOKYO Jan 9 Japan's Fast Retailing,
operator of the Uniqlo casual clothing store chain, on Thursday
reported a jump in quarterly profit after shifting its strategy
to lure shoppers to spend more at its stores, in part by
offering higher-end goods such as cashmere sweaters.
Operating profit in its first fiscal quarter to end-November
rose 13 percent to 64.0 billion yen ($610.48 million),
surpassing the 59.9 billion yen forecast of four analysts
surveyed by Thomson Reuters I/B/E/S.
Fast Retailing boosted spending per customer at its existing
Uniqlo stores in Japan in the quarter, changing tack after
discounting that sought to increase customer traffic but weighed
The company left its operating profit target for the full
year to end-August unchanged at 156 billion yen, a gain of 17.4
percent. That is in line with analysts' average estimate of
155.36 billion yen.
($1 = 104.8350 Japanese yen)
(Reporting by Ritsuko Shimizu; Editing by Edmund Klamann)