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Fast Retailing
shares surged more than 9% to a record high on Friday after the Japanese parent of Uniqlo lifted its annual outlook and as robust international growth boosted its quarterly profit.
Reflecting the stronger first-half performance and favorable currency assumptions, the company raised its full-year outlook for operating profit to 700 billion yen ($4.4 billion) from 650 billion yen forecast earlier.
The company sees a prolonged runway for expansion, with CEO Tadashi Yanai signaling “significant growth ahead” in a presentation on Thursday.
