Content about Economy of Asia

January 10, 2013

Uniqlo parent records 17% leap in Q1 profit

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

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.

October 25, 2012

Uniqlo’s Mall Play

Uniqlo has made its first move in an ambitious plan to become a major presence in shopping malls throughout the nation. The company, Japan’s largest retailer and a division of Fast Retailing Co., has jump-started its U.S. expansion with the opening of a 43,000-sq.-ft. store in Westfield Garden State Plaza, Paramus, N.J.

March 17, 2011

Report: Food prices in biggest jump since 1974

The Labor Department’s Producer Price Index rose last month, primarily due to higher energy costs and the biggest rise in food prices in 36 years, USA Today reported.

New York City -- The Labor Department’s Producer Price Index rose last month, primarily due to higher energy costs and the biggest rise in food prices in 36 years, USA Today reported.

Food prices rose 3.9% last month, the highest increase since November 1974.

The steep rise was due, in large part, to higher vegetable costs, which were up nearly 50%.