JAPAN: Fast Retailing makes "significant" Q1 gains
Uniqlo's international division reported “significant” year-on-year gains
In the three months from September to November, net income increased by 8.8% to JPY41.8bn (US$398.5m). Consolidated net sales were up 22.3% to JPY389bn.
In the firm's Uniqlo operations, sales in Japan climbed 1.8% to JPY208.4bn, while operating income rose 6.2% to JPY42.4bn.
The international division reported "significant" year-on-year gains in both sales and income in the quarter, with sales expanding 76.8% to JPY114bn and operating income soaring 97% to JPY16.5bn.
The group's Global Brands segment performed in line with expectations with sales up 36.5% to JPY65.9bn and operating income increasing 9.2% to JPY6.8bn.
For the full year, Fast Retailing expects sales to expand by 15.7% to JPY1.32trn, and net income to increase 1.8% to JPY92bn, representing EPS of JPY902.88.
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