Reuters
Nov 18, 2009
Japan's Fast Retailing to run $11 million lottery
Reuters
Nov 18, 2009
TOKYO, Nov 18 (Reuters) - Fast Retailing Co (9983.T), operator of Uniqlo casual-clothing chain, said it would run a lottery offering $11 million in cash prizes to customers in a sales campaign starting on Nov. 21.
The campaign, which is to commemorate the 60th anniversary of Fast Retailing's foundation, will last through Dec. 31. The company said it would offer 10,000 yen in cash to 100,000 winners from among customers who spend more than 5,000 yen at its group stores.
Fast Retailing said it would also sell its popular "Heattech" undergarments made of heat-trapping fabric at 600 yen, compared to the usual prices of 1,000 yen to 1,500 yen, to 200 customers on the first day of the campaign, among others.
Uniqlo has been one of the few winners in a prolonged retail slump in Japan. Its sales in October surged 35.7 percent from a year earlier, the biggest jump in more than eight years, raising the prospects of it hiking its earnings outlook. (Reporting by Yuko Inoue)
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