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.
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 ...
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