By  on October 12, 2011

TOKYO — Uniqlo parent Fast Retailing Co. Ltd. said Wednesday that its full-year net profit slumped 12 percent as it blamed unseasonable weather patterns and an unsuitable product mix for the drop.

Net profit for the 12 months ended Aug. 31 declined to 54.35 billion yen, or $665.79 million at average exchange rates for the period. Operating profit fell 12.1 percent to 116.37 billion yen, or $1.43 billion. Net sales for the year were close to flat, rising just 0.7 percent to 820.35 billion yen, or $10.04 billion.

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