Uniqlo owner at 'turning point' in China due to large profit fall there

TOKYO -- Japanese clothing retailer Uniqlo is "at a turning point" with its store-opening strategy in China, the company's head of Chinese business said on Thursday as the chain's parent, Fast Retailing, announced a "large profit fall" in China during the three months through May.

Fast Retailing on Thursday posted a net profit of 116.9 billion yen ($720 million) for the three months, an increase of 37.4% from the same period last year, driven by recovering sales in Japan.