Tokyo ― The operator of the Uniqlo clothing brand, Japan’s Fast Retailing, said quarterly operating profit surged by a third and it bumped up its annual outlook citing robust sales growth globally that helped it absorb US tariffs.
On track for its fifth consecutive year of profit, the company has benefited from a pickup in sales in China — its largest overseas market — as well as an aggressive expansion strategy in North America and Europe. It opened up major stores in Antwerp, Birmingham and Munich during the quarter. In the US, it is planning a string of new flagship stores in Chicago, New York and Boston.
“In the first quarter we absorbed the impact of additional tariffs in the US and beat our expectations for business profit margin,” CFO Takeshi Okazaki said at a press briefing. Fast Retailing said operating profit climbed 34% to ¥205.6bn during the September-November period on a 15% increase in revenue. That easily beat an LSEG consensus estimate of ¥177bn.
Profit from its domestic business grew 20.6% from a year earlier thanks to buoyant demand for sweatshirts and warm innerwear. Reuters
Battery makers must improve capacity, says China
Beijing — China’s industry ministry said on Thursday it had urged battery manufacturers to optimise industry capacity and mitigate risks of overcapacity.
The ministry highlighted the need to regulate market competition and enhance supervision within the electric vehicle and energy storage battery sectors, according to a readout of a meeting on Wednesday posted on its Wechat account.
Top battery makers CATL, BYD, Gotion High Tech and EVE Energy were among the 16 companies present at the meeting, state-run China Daily reported, citing sources. Energy storage system integrators Beijing HyperStrong Technology, Zhuzhou CRRC Times Electric and Trina Solar — also a top solar manufacturer — also attended, according to the report.
The industry ministry said it convened the meeting along with the state planner and energy and market regulators. Reuters
UK to speed up probe of ABF’s deal with Hovis
Bengaluru — Britain’s competition regulator said on Thursday that it would fast-track its probe of Associated British Foods’ deal to buy bread brand Hovis from private equity firm Endless to an in-depth investigation.
The move comes just weeks after the Competition and Markets Authority (CMA) said it would examine the deal, which would add another major UK bread brand to ABF’s portfolio and strengthen its position amid falling demand for packaged sliced loaves.
Primark-owner ABF announced the deal to buy 135-year-old Hovis in August last year. ABF and Hovis did not immediately respond to Reuters’ requests for comment. Reuters
Container imports fall nearly 6% in US
Los Angeles — US container imports fell 5.9% in December to end the year down 0.4% from 2024 after President Donald Trump’s tariff policies slashed shipments from China, shook up global trade and fuelled inflation fears, supply chain technology provider Descartes Systems Group said on Thursday.
US container import volumes totalled 2.2-million 20-foot equivalent units in December 2025 and 28.1-million TEUs for the full year, Descartes said. Imports were up 10% early in 2025 as retailers and other buyers stockpiled goods to avoid potential tariffs on a swath of goods — especially from China, a key target of Trump’s tariffs. A volume drop later in the year more than exhausted those gains, even as Trump rolled back or delayed tariffs on everything from Chinese furniture to Italian pasta.
In December, China imports fell 21.8% year over year. Shipments from India, Taiwan, South Korea and Italy also declined. Increases from Thailand, Vietnam, Indonesia, Japan and Hong Kong were not enough to offset the drop. US tariff policy remains a top concern for importers. The US Supreme Court could issue a ruling as soon as Friday on the legality of tariffs based on the International Emergency Economic Powers Act. Reuters
Zalando to shut warehouses in Germany
Gdansk — Zalando said on Thursday it would close one of its warehouses in Germany, as the online fashion retailer reorganises its logistics network to adjust capacities after the inclusion of newly acquired About You.
It added it would discontinue activities at three warehouses outside the country operated by external service providers.
Zalando said it planned to close its fulfilment centre in Erfurt, which includes 2,700 employees, at the end of September this year.
After the adjustments, the group’s logistics network will comprise 14 fulfilment centres across seven countries, it said. Reuters
China to probe Meta’s deal with Manus
Beijing — China will assess and investigate Meta’s acquisition of AI start-up Manus, the Chinese commerce ministry said on Thursday.
Companies engaging in activities such as foreign investment, technology exports, data transfers abroad and acquisitions must comply with Chinese laws and regulations, ministry spokesperson He Yadong said at a media briefing.
The ministry will work with relevant departments to conduct an assessment and investigation into the consistency of this acquisition with laws and regulations, He said. Reuters
Supply chains being weaponised, says French aerospace
Paris — France’s aerospace industry voiced alarm on Thursday over the “weaponisation” of global supply chains as major powers pursue their geopolitical agendas, and warned that rare earths remained a potential pressure point despite a US-China trade truce.
GIFAS aerospace association president Olivier Andries, who is also the CEO of engine maker Safran, also expressed concerns over the lack of a domestic budget for 2026, saying French parliamentarians had “lost direction”. Reuters
