Uniqlo owner sees limited tariff impact, reports 12.2% rise in 9-month profit

Japan's Fast Retailing , owner of the Uniqlo clothing brand, on Thursday kept its full-year forecast, as it expected early shipments of its products to the North American market to limit the impact of higher U.S. tariffs.

Operating profit was 451 billion yen ($3.08 billion) in the nine months to May 31, against the consensus forecast of 458 billion yen, based on a LSEG poll of five analysts.

The owner of Uniqlo posted a 12.2% rise in nine-month operating profit.

U.S. President Donald Trump has set a new August 1 deadline for "reciprocal" tariff rates, which will affect nearly all trading partners, unless negotiations in the coming weeks lead to reductions.

"FY2025 impact is likely to be limited, whatever the tariff rate," Fast Retailing said in an earnings statement, adding it has already shipped a substantial number of products to the U.S.

The majority of Uniqlo products sold in the U.S. are produced in Southeast Asia and South Asia.

In a letter on Wednesday, Trump notified Sri Lanka, a major apparel exporter to the U.S., would face a 30% tariff from August 1. Its competitor Vietnam faces a lower 20% U.S. tariff but trans-shipments from third countries through Vietnam will face a 40% levy, Trump said last week.

Fast Retailing said operating profit in the three months to May 31 rose 1.4% to 146.7 billion yen ($1.00 billion), below a consensus forecast of 153.8 billion yen based on a LSEG poll of five analysts.

The company kept its full-year operating profit forecast at 545 billion yen. ($1 = 146.3600 yen)