Uniqlo owner slashes profit outlook, global ambitions hit by pandemic

Uniqlo owner slashes profit outlook, global ambitions hit by pandemic

The company forecast an operating profit of 145 billion yen ($1.33 billion) in the full year through end-August, down from a previous forecast of 245 billion yen and 44 percent lower than a year earlier. The pandemic disrupted Uniqlo's supply chain throughout China and forced it to shut over half of its 750 stores in the country, the company's biggest growth market in recent years.. For the current fiscal year it forecast losses in both the North American and European markets as stores remained shut.. The company also cut its full year dividend outlook to 480 yen per share from a previous 500 yen forecast.. Moroccan companies begin ventilator production /node/1656636/business-economy. The pandemic has led to a global shortage of ventilators and other medical equipment. The first 500 non-invasive ventilators will be ready in about a week, the Moroccan Industry Ministry said. RABAT: Morocco has started manufacturing its own ventilators with oxygen masks, with 500 expected to be ready by mid-April to help meet demand caused by the COVID-19 pandemic, the Industry Ministry said.. The first 500 non-invasive ventilators will be ready in about a week, the ministry said in an email to Reuters..