The Japanese operator of the global Uniqlo clothing chain said on Thursday that first-quarter operating profit rose 7.4%, a solid start to its plan to achieve record profits for a fourth-straight year.

Fast Retailing said that operating profit was JPY157.6 billion in the three months through November.
That compares with JPY146.7 billion a year earlier and trailed an LSEG consensus forecast of JPY160 billion drawn from six analysts.

Fast Retailing held its full-year operating profit forecast of JPY530 billion, following record earnings of JPY500.9 billion last year.