Uniqlo owner Fast Retailing has risen the most in three months after the company issued an outlook for profit and sales for the current fiscal year ahead of analysts’ projections.
The stock rose as much as 6.9% in early trading in Tokyo Friday, the largest intraday gain since July 15.
Asia’s largest retailer is forecasting a record profit for the year ending August 2023, thanks to improving demand for its cheap casual apparel in Japan and a weaker yen bolstering profits brought back home from overseas.