JAPAN: Fast Retailing's sales dip 10.3% in May
Japanese retailer Fast Retailing saw domestic same-store sales decline 10.3% during May, which it attributed to cooler weather and fewer weekends and public holidays over the month.
The company, which operates the Uniqlo chain, said sales on its own stores declined 7.3%, while total sales sales, including online sales, were down 6.9%.
"Despite strong sales during the Golden Week holiday in early May and our campaign to celebrate Uniqlo's 28th anniversary in late May, same-store sales for the whole of May dipped year on year with two fewer Saturday, Sunday and public holidays for shopping compared to the previous year, and cool weather in the middle of month dampening sales of summer garments," the company said.
The company closed two stores over the month.
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Asia is the driving force behind the global apparel market from a supply perspective, and accounts for around 70% of total global apparel exports. However, the market has struggled through tough times...
Fast Retailing, which operates the Uniqlo brand, is to acquire a majority stake in fashion firm J Brand as it looks to strengthen its position in the US....
Fast Retailing's Uniqlo and Theory brands have teamed up to design and manufacture a collection of down jackets and vests for men and women....
Japanese casual clothing retailer Uniqlo has today (2 November) blamed a fall in October same-store sales on persistently warm weather, which stifled demand for autumn and winter garments....
Fast Retailing, which operates the Uniqlo brand, has said it expects sales to top JPY1trn in 2013 as it continues to grow aggressively outside of its Japanese home market. ...
Japanese retailer Fast Retailing has revealed it will open its first multi-brand department store in Tokyo next month....
A slow start to the autumn and winter season pushed Japanese casual clothing retailer Uniqlo to a 2.4% fall in September same-store sales....
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