Operator of Uniqlo says profit more than doubled

UNIQLO’S parent company said yesterday that its annual net profit more than doubled from a year ago to a record thanks to strong sales and as a cheaper yen inflated profits. Fast Retailing’s net profit came in at 119 billion yen ($1 billion) in the fiscal year through August, with revenue up 4.2 percent at 1.86 trillion yen, it said. Asia’s biggest retailer – a rival of Zara, Gap and H&M – said sales were particularly strong at Uniqlo’s foreign outlets including in China and around Asia-Pacific.