Fast Retailing Co. on Thursday revised downward its group net profit outlook for the year through August to 85 billion yen ($792 million) from 100 billion yen due partly to the longer-than-expected shutdown of Uniqlo stores overseas in the wake of the new coronavirus pandemic.

The new estimate by the casual clothing chain operator follows an earlier slash in its net profit forecast from 165 billion yen in in April.

It also cut its operating profit estimate to 130 billion yen from 145 billion yen and sales projection to 1.99 trillion yen from 2.09 trillion yen.

For the nine months to May, Fast Retailing's net profit fell 42.9 percent to 90.64 billion yen and operating profit sank 46.6 percent to 132.38 billion yen. Its sales slipped 15.2 percent to 1.54 trillion yen.

==Kyodo

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