TOKYO — Fast Retailing Co. Ltd. lowered its full-year earnings forecasts, citing foreign exchange factors that bit into first-half profits and an expected rise in operating costs in its home market of Japan.
Uniqlo’s corporate parent warned that full-year net profit will be weaker than expected, dropping 2.6 percent to 88 billion yen, or $958.24 million at current exchange. When releasing first-quarter numbers in January, the company had forecast full-year net profit of 92 billion yen, or $1 billion.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)