Fast Retailing Sees Record Profit on Weak Yen, Sales Boom

Uniqlo owner Fast Retailing Co. expects full-year profit will hit a record as a weaker yen and strong sales globally outweighed a China slump due to Covid Zero lockdowns.

The Asian retailer raised its full-year operating forecast to 290 billion yen ($2.1 billion) from an earlier estimate of 270 billion, according to a statement on Thursday. That topped analyst projections and, if achieved, would beat the previous record set in 2019.

The outlook…