HK Stock Market Move | Uniqlo's parent company, FAST RETAIL-DRS (06288), fell more than 5% in the first quarter, with operating profit slightly below expectations.

Uniqlo's parent company, FAST RETAIL-DRS (06288), fell more than 5%, dropping 5.24% to 23.5 Hong Kong dollars, with a transaction value of 152,300 Hong Kong dollars. In terms of news, the FAST RETAIL-DRS group announced on Thursday that its operating profit for the first quarter increased by 7.4%, setting a good start for its plan to achieve record profits for the fourth consecutive year. For the three months ending in November of last year, the company's operating profit was 157.6 billion yen, compared to 146.7 billion yen in the same period the previous year. This performance was slightly below the analyst average expectation of 160 billion yen from LSEG research. FAST RETAIL-DRS maintains its full-year operating profit forecast at 530 billion yen, higher than the record 500.9 billion yen in the previous fiscal year.