Fast Retailing Group (TSE:9983) 1Q17 Results: Revenues Miss Estimates; EPS Jumps on a Weaker Yen

Executive Summary

• Fast Retailing Group reported 1Q17 consolidated revenues of ¥528.8 billion, up 1.6% year over year, and missed the consensus median estimate of ¥540.9 billion.
• Profit before taxes increased by 34.2% year over year to ¥104.2 billion, and diluted EPS jumped 45.1% to ¥682.60, boosted by a weaker yen.
• The company guides for full-year revenues of ¥1,850 billion, operating profit of ¥175 billion and basic EPS of ¥980.74.