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Fast Retailing tumbles to five-month low after cutting guidance
April 11, 2014 / 12:20 AM / in 4 years

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 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 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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