Japan's Fast Retailing Co FRCOY reported a 1.4% drop in its net profit for the first half of its business year and lowered its full-year outlook.
For the full year, the retailer cut its profit forecast to Y88 billion ($862 million), versus Y92 billion, However, it lifted its revenue guidance to Y1.37 trillion versus Y1.32 trillion.
Fast Retailing's net profit for the period fell to Y64.56 billion, from a year-ago profit of Y65.45 billion.
Its sales climbed 24.3% to Y764.35 billion, while operating profit climbed 6.8% to Y103.20 billion.
Fast Retailing shares closed at $37.20 yesterday.
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