Japan's Fast Retailing forecasts growth after record annual sales
Uniqlo's business outside Japan expanded sharply, mainly in Europe and the United States, with both sales and profits showing strong growth.
- Fast Retailing, operator of Uniqlo, achieved record annual sales and profits for the financial year ending in August.
- The company forecasts continued growth for the new financial year, projecting a 12.3% sales increase to 4.45 trillion yen.
- The record results were driven by strong overseas sales and profit growth for its Uniqlo brand, particularly in Europe and the United States.
Japan’s Fast Retailing Co. expects sales to reach 4.45 trillion yen in the financial year that began in September, following record sales and profits in the year ended in August.
The forecast, announced on Thursday (October 8) by the operator of Uniqlo and other casual clothing stores, represents a 12.3% sales increase.
The group also projects 830 billion yen in operating profit and 560 billion yen in net profit, equivalent to growth of 11.7% and 3.2%, respectively.
Europe and the United States were the main areas of strong overseas sales and profit growth for Uniqlo, the group’s principal business.
For the completed financial year, group sales totalled 3,963.3 billion yen.
This exceeded the previous year’s figure by 16.6% and established a new annual record.
Operating profit of 743.1 billion yen and net profit of 542.5 billion yen also marked new annual highs.
Compared with a year earlier, these represented increases of 31.7% and 25.3%, respectively
[Copyright The Jiji Press, Ltd.]
