Fast Retailing Co. said Thursday its operating profit jumped 23.3 percent in the September-November period from a year earlier to 113.09 billion yen ($1.09 billion), reflecting strong demand for its causal clothing as more people stayed at home amid the novel coronavirus pandemic.

The operator of the Uniqlo and GU casual clothing brands said robust sales in Japan and China including items sold online made up for slumping sales in Southeast Asia, Europe and North America where the continued spread of the virus forced some of its stores to close.

"We had solid sales even in the severe situation, as we believe our products are becoming necessary items for people's daily lives," Chief Financial Officer Takeshi Okazaki said at a press conference, referring to firm demand for work-from-home attire.

Fast Retailing maintained its full-year net profit outlook through August at 165 billion yen projected in October, expecting sales to continue to grow in Japan and China, despite a recent resurgence of the global pandemic.

"We have kept our earnings forecast unchanged, but it could change depending on the scale of the resurgence," Okazaki said.

In the first quarter, the Japanese apparel maker's net profit fell 0.7 percent from a year earlier to 70.38 billion yen, due to an increased tax bill and a stronger yen, on sales of 619.80 billion yen, down 0.6 percent.

Fast retailing said its operating profit generated in Japan swelled 55.8 percent from a year earlier to 60 billion yen, on sales of 253.8 billion yen, up 8.9 percent.

Its operating profit from overseas business rose 9.5 percent to 41.4 billion yen, on sales of 260.6 billion yen, down 7.2 percent.

==Kyodo

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