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Uniqlo owner Fast Retailing Co. expects full-year profit will hit a record as a weaker yen and strong sales globally outweighed a China slump due to COVID-19 lockdowns.

The Japanese retailer raised its full-year operating forecast to ¥290 billion ($2.1 billion) from an earlier estimate of ¥270 billion, according to a statement on Thursday. That topped analyst projections and, if achieved, would beat the previous record set in 2019.

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