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Fast Retailing Co Ltd

Next Plc

Fast Retailing 9M profit, sales slide on Covid impact

9 July 2020 | Hannah Abdulla

Uniqlo-owner Fast Retailing has booked a 42.9% fall in profits for the nine months to May with sales declining 15.2% year-on-year to JPY1.54trn (US$14.3bn).... read more

Reopening factories safely is the next challenge – Here's how fashion brands can help

11 May 2020 | Guest author

Western retailers must not turn their backs on their suppliers and the millions of workers who make the goods they sell, say Dorothée Baumann-Pauly and Natasja Sheriff from the NYU Stern Center for Business and Human Rights. Here they set out three ways fashion brands can offer practical assistance their suppliers during the Covid-19 crisis.... read more

Next "better placed" than others to weather Covid-19 storm

29 April 2020 | Hannah Abdulla

UK retailer Next Plc issued a bleak trading update this morning (29 April) demonstrating how the coronavirus outbreak has impacted its business so far. Product full-price sales for the period from 26 January to 25 April fell 41% and it is now anticipating a steep fall of up to 40% in full-year full-price sales, while cancelling stock it no longer needs and moving other inventory into future seasons.... read more

Fast Retailing takes steps to safeguard suppliers

27 April 2020 | Hannah Abdulla

The owner of the Uniqlo and Gu brands, Fast Retailing, says it is rolling out a series of measures to cut the risk of Covid-19 to its manufacturing partners and workers across its supply chain, including payment to its suppliers for complete orders and orders where production has started.... read more

Global retail closures as coronavirus spreads – Update

15 April 2020 | just-style

A raft of apparel and footwear brands and retailers including Next Plc, Primark, H&M, Nike and Gap Inc, are temporarily closing stores and suspending online operations as part of efforts to help limit the spread of the coronavirus (Covid-19) outbreak. ... read more

Next re-opens online, warehousing and distribution ops

14 April 2020 | Michelle Russell

UK clothing and homeware retailer Next Plc has begun selling online again today (14 April) – albeit in a limited way – after putting safety measures in place to ensure its warehouse workers are safe.... read more

Next fears virus sales hit more than supply issues

19 March 2020 | Michelle Russell

UK fashion and homeware retailer Next Plc has warned it could lose up to GBP1bn (US$1.15bn) in sales as the coronavirus impacts demand – but says it is armed with various measures that could help control costs and conserve cash.... read more

Uniqlo Japan uses recycled down in new line

15 January 2020 | Michelle Russell

Fast Retailing clothing brand Uniqlo Japan has begun recycling down extracted from donated items for use in new products.... read more

Fast Retailing engages robot startups to boost warehouse efficiencies

13 November 2019 | Hannah Abdulla

Japan's Fast Retailing Group, the owner of brands including Uniqlo and Gu, has employed two robotic startups to help improve efficiency in warehousing and distribution.... read more

Next shares fall as Q3 retail sales slip

30 October 2019 | Beth Wright

Shares in Next Plc remained down by more than 3% this-afternoon (30 October) after the UK-based fashion and homewares retailer maintained its full-year guidance but said strong sales growth in October is unlikely to be replicated for the rest of the year.... read more

Uniqlo and s.Oliver under fire over Indonesia workers

21 October 2019 | Michelle Russell

Worker rights campaigners have filed a complaint with the Fair Labor Association against Uniqlo-owner Fast Retailing and German clothing brand s.Oliver over the failed settlement of wage and severance payments at a former supplier in Indonesia.... read more

Project to improve working conditions for women in South India's fabric mills - Exclusive

30 September 2019 | Beth Wright

The first phase of a project by Shop Direct, Next Plc and Varner to improve employment conditions for young women in South India's fabric mills has engaged almost 9,500 people, with the partnership now gearing up for a second phase, due to launch later this year - with plans including the launch of an app for workers to provide feedback.... read more

Next points to price cuts in event of no-deal Brexit

19 September 2019 | Beth Wright

Shares in Next Plc were down by more than 4% this-morning (19 September) after the apparel retailer maintained its full-year guidance despite a rise in both earnings and revenue for the first half, and pointed to price cuts in the event of a no-deal Brexit.... read more

Fast Retailing pledges $1.8m to support Asia workers

4 September 2019 | Beth Wright

Japanese retail giant Fast Retailing is to invest US$1.8m in a new programme with the International Labour Organization (ILO) to improve social security systems and worker environments in Asia.... read more

Ted Baker switches to Next for childrenswear

16 August 2019 | Beth Wright

UK fashion and lifestyle brand Ted Baker has inked a new childrenswear licence agreement with Next Plc, replacing a deal with Debenhams due to end in February. ... read more

Next shares surge as retailer ups FY outlook

31 July 2019 | Beth Wright

Shares in Next Plc surged by more than 9% this morning after the UK-based fashion and homewares retailer significantly increased its full-year guidance – more than doubling full-price sales growth and upping profit guidance by GBP10m (US$12.2) – on the back of a strong second quarter.... read more

Uniqlo International and GU lift Fast Retailing Q3

12 July 2019 | Beth Wright

Retail giant Fast Retailing, owner of the Uniqlo casual clothing chain, has reported revenue and profit gains for the third quarter, boosted by strong performances from the company's Uniqlo International and GU segments.... read more

Fast Retailing to cut plastic use in its supply chain

3 July 2019 | Beth Wright

Japanese retail giant Fast Retailing is to eliminate the use of unnecessary plastic throughout its supply chain and reduce up to 85% of the amount of single-use plastic packaging at group stores by the end of 2020.... read more

Fast Retailing to champion women garment workers

28 June 2019 | Beth Wright

Japanese retail giant Fast Retailing is to invest US$1.6m in a new programme for female workers in garment factories in Asia as part of a partnership with UN Women.... read more

Fast Retailing discloses all garment supplier factories

13 May 2019 | Hannah Abdulla

Japan's Fast Retailing has moved to increase its transparency efforts, disclosing all the garment factories supplying its Theory, PLST and other brand factories as well as Uniqlo and GU.... read more

Warm weather buoys Next Q1 sales

1 May 2019 | Beth Wright

Unusually warm weather helped buoy sales at Next Plc in the first quarter, but the rise was not enough to spark an increase in full-year guidance at the UK fashion and homewares retailer.... read more

Next says no-deal Brexit could save it up to GBP15m

21 March 2019 | Beth Wright

British fashion retailer Next Plc says it could save up to GBP15m in tariffs under a no-deal Brexit –  which it would pass on to shoppers via lower prices.... read more

The price of US imports from China continues to fall

19 March 2019 | Leonie Barrie

Despite concerns about sourcing from China amid an intensifying trade war with the US, newly-published figures show China continues to dominate US apparel imports – with import volume rising and prices continuing to fall again last year.... read more

Outlook for UK retailers looks bleak

11 March 2019 | Hannah Abdulla

The outlook for UK retailers continues to look bleak. UK department store John Lewis blamed a "challenging" retail backdrop for a more than 45% drop in full-year profits to GBP160m. It was a similar story for rival Debenhams, which issued a warning on full-year profits based on poor sales performance. In an update, the retailer said for the 18 weeks to 5 January, gross transaction value fell 5.6% and like-for-like sales were down 5.7%. ... read more

How Levi Strauss is driving sustainable change

4 March 2019 | Beth Wright

The denim and jeans sector is having to work tirelessly to change perceptions over its sustainability, or lack of it. But change is nigh, promises Michael Kobori, vice president of social and environmental sustainability at Levi Strauss & Co. The company recently expanded its Partnership for Cleaner Textiles (PaCT) programme to four countries in Asia and is now engaging in one of its most ambitious plans to date, with a target to cut carbon emissions across its supply chain by 40% by 2025. "At this point, that is the most aggressive target in the industry, we believe, in terms of both the magnitude and the timeframe," Kobori tells just-style.... read more

Nike retains position as world’s most valuable apparel brand

28 February 2019 | Beth Wright

US sporting goods giant Nike has once again retained its position as the world's most valuable apparel brand, strengthening its position with a 16% rise in brand value since last year, new figures show.... read more

British MPs call for laws to tackle fast fashion

25 February 2019 | Hannah Abdulla

The UK government is being urged to introduce legislation that requires fashion brands and retailers to perform due diligence checks across their supply chains and take more responsibility for the environmental impact of their businesses. ... read more

Cambodia facing trade benefits suspension

18 February 2019 | Beth Wright

The European Union has officially started the process that could lead to the temporary suspension of Cambodia's preferential access to the EU market under the Everything But Arms (EBA) trade scheme. The move follows a warning toCambodia in Octoberthat without clear and demonstrable improvements to its human rights situation there would be asuspension of trade preferences. Not surprisingly, the news has disappointedthe Garment Manufacturers Association in Cambodia (GMAC), which sayssuch a movewould jeopardise the country's efforts to build a responsible apparel supply chain.... read more

US imports hit by earlier stockpiling efforts

11 February 2019 | Hannah Abdulla

Latest figures have revealed a fall in US apparel import volumes from nine of the top ten supplier countries in November. China, its biggest apparel supplier, booked flat growth. The picture was hugely different from the previous month where all ten showed positive growth for imports into the US, suggesting retailers were stockpiling earlier to get ahead of the holiday period, as well as bringing in spring merchandise, in a bid to beat a potential increase in tariffs on goods from China.... read more

Hemp apparel – hype or opportunity?

4 February 2019 | Leonie Barrie

With products derived from hemp making their presence felt in a range of industries, from food and drinks to medicines, we've looked at potential applications in clothing – and issues for the supply chain.... read more

TexOps restructure and the quest to get ahead

28 January 2019 | Beth Wright

Salvadoran sportswear maquila TexOps is navigating a painful restructuring, with owner David Ha putting the brakes on expansion. "We are going back to basics,” the Korean entrepreneur tells just-style in an exclusive interview, revealing how the firm is strategising ahead to get ready for what is coming. This, he says, includes an increase in US labels shifting sourcing south of the border as Trump's trade war with China escalates.... read more

Brexit deal rejection worries apparel industry

21 January 2019 | Hannah Abdulla

Last week's rejection of Theresa May's proposed UK-EU Brexit deal by MPs saw chatter spike among industry execs who say a No-Deal Brexit could be problematic for the sector given its heavy reliance on overseas talent ... read more

Warmer winter hits Q1 profits at Fast Retailing

17 January 2019 | Hannah Abdulla

Tumbling sales at Uniqlo Japan have impacted first-quarter profits at parent company Fast Retailing.... read more

US trade updates out of date

15 January 2019 | Leonie Barrie

Apparel and textile industry executives are among those being deprived of key trade and economic data amid the ongoing US government shutdown – at a time when trade tensions between the US and China mean that having access to the most up-to-date statistics is more important than ever.... read more

2019 off to a positive start

7 January 2019 | Leonie Barrie

Getting 2019 off to a positive start, it seems US apparel retailers saw some holiday cheer, with strong sales momentum that started during the back-to-school season carrying on to Christmas.... read more