Retail News

Uniqlo raises outlook as new challenges emerge

Reuters 04/09/2021

Fast Retailing, parent company Uniqlo, announced that it posted a profit of $1.53 billion for the six months through February. The retailer expects further improvements going forward, but has seen some supply chain disruptions after two factories it uses in Myanmar were closed due to fires that happened as civil unrest continues following a military coup. Fast Company has also seen sales take a hit in China as companies based outside the country have faced a governmental and consumer pushback over criticisms of forced labor.

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