|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||59.81 - 60.42|
|52 Week Range||43.16 - 66.58|
|Beta (3Y Monthly)||0.51|
|PE Ratio (TTM)||45.12|
|Forward Dividend & Yield||0.44 (0.73%)|
|1y Target Est||N/A|
A boycott on Japanese goods in South Korea has had an impact on casual clothing chain Uniqlo's sales in the country, the company said on Friday, highlighting the widening economic hit from a diplomatic row over Tokyo's wartime role. Japan's decision last month to tighten controls on exports of materials that South Korea uses to make semiconductors and smartphone displays has prompted a consumer backlash in Korea, with consumers boycotting Japanese products from beer to pens. The dispute is rooted in compensation for forced laborers during Japan's occupation and South Korea has repeatedly invoked its difficult history with Japan, which colonized the Korean peninsula during World War Two.
Japan's Nikkei edged higher in choppy trade on Friday, helped by index heavyweight Fast Retailing, but weak profits from some firms such as Yaskawa Electric dragged on machinery stocks. In afternoon trade, virtual currency exchange operator Remixpoint Inc started tumbling and ended 19% lower after saying it had detected an improper leak of virtual currency worth around 3.5 billion yen. Fast Retailing jumped 3.2% and contributed a hefty 79 points to the Nikkei.
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Fast Retailing, the company behind the Uniqlo chain of apparel stores, announced Monday that the data of more than 460,000 customers on its online shopping sites were accessed by hackers from April 23 to May 10.
Japan's Nikkei share average rose on Friday but was little changed for the week, as many investors stayed on the sidelines ahead of the U.S. and domestic earnings season and an upcoming 10-day holiday in Japan. The benchmark Nikkei ended the morning session at 21,841.90, up 130.52 points, or 0.6 percent, on the day, largely thanks to its heavyweight Fast Retailing Co Ltd, which soared 7.8 percent to contribute a hefty 160 points, or 0.7 percent, to the Nikkei. The broader market was not as rosy as the Nikkei might suggest, with the Topix index dropping 0.1 percent to 1605.39.
Japanese stocks rose on Wednesday as optimism over U.S.-China trade talks boosted shippers and other cyclical shares while index heavyweight Fast Retailing soared after it reported strong monthly sales. The Financial Times reported that top U.S. and Chinese officials have resolved most of the issues standing in the way of a deal to end their long-running trade dispute but are still haggling over how to implement and enforce the agreement, citing people briefed on the talks. The report came on the heels of U.S. President Donald Trump's comment that the trade talks with China were going very well.
Uniqlo has a new spring jacket with has four large square pockets. Some say it resembles the uniform worn by Mao Zedong. The company, owned by Fast Retailing, describes the jacket as an "iconic military jacket" that is part of its "progressive essentials" collection.
Japanese retailers are doing a better job than their U.S. rivals in selling into those "shops." Increasingly, they don't care if the sales are offline or online. The pace, like most things in China, is electric. Before China's capitalist-leaning reforms truly kicked in, the merchandise in all stores was kept behind counters, and consumers stood on the other side.
Nike is seeing success from its Kaepernick sponsorship, but it's an exception to the new rule—big lucrative endorsement deals are going out of style.