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.
As labour costs in China continue to rise, the country's apparel and textile industry is seeing some orders transferred to other outsourcing locations as foreign buyers seek lower-cost manufacturers....
Fast Retailing aspires to become the world’s largest clothing company by 2020. International expansion will be key to achieving this goal. While the company has successfully expanded in Asia, gaining ...
More than 180 companies have now signed the Accord on Fire and Building Safety in Bangladesh following the collapse of the Rana Plaza factory building in Dhaka, which killed more than 1,100 people las...
Fast Retailing Co Ltd aims to strengthen its position overseas to become the world’s number one apparel manufacturer and retailer. The company announced that it has a target to achieve annual group sa...
Apparel, Accessories & Luxury Goods in Asia-Pacific industry profile provides top-line qualitative and quantitative summary information including: market size (value 2008-12, and forecast to 2017). Th...
Casual clothing brand Uniqlo saw sales at its Japanese stores grow in June, thanks to demand for its summer merchandise....
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