Uniqlo parent records 17% leap in Q1 profit

New York -- Fast Retailing Co., parent to the Uniqlo chain, reported Thursday that net income for the fiscal first quarter jumped 17% to $644.3 million, boosted by strong same-store sales at Japan Uniqlo units.

On Wednesday, the company announced that Uniqlo will continue its U.S. expansion strategy by opening two new mall locations in New York.

The company has raised its annual profit forecast.