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Uniqlo to close 50 stores in China this year

Takeshi Okazaki, Chief Financial Officer of the Japanese apparel giant Fast Retailing, disclosed in a recent interview with the Nikkei that the company will ...

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BEIJING -- Uniqlo will launch a global flagship store in one of Beijing's leading fashion districts Saturday, a key step in its aggressive expans

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Uniqlo operator Fast Retailing raises profit outlook

Uniqlo operator Fast Retailing raises profit outlook
AFP
3 hrs ago
AFP
© Kazuhiro NOGI
Following years of aggressive expansion, Fast Retailing is vying to be the world's most valuable clothing firm
Uniqlo's parent company Fast Retailing said Thursday it expects a stronger rebound in full-year operating profit driven by a solid performance in East Asian countries hit less hard by virus lockdowns.
The Japanese clothing empire forecast 2020/21 operating profit of 255 billion yen ($2.3 billion) -- up slightly from its previous estimate of 245 billion yen.
That marks a rise of 70.7 percent from the year before, when business began to be hit worldwide by the Covid-19 pandemic with many shops forced to close for extended periods.

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Uniqlo operator Fast Retailing raises profit outlook

Uniqlo operator Fast Retailing raises profit outlook
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Fast Retailing makes impressive rebound in Q1

Earnings were up thanks to large gains from Uniqlo Japan and Greater China
Fast Retailing, owner of the Uniqlo casual clothing brand, has reported a higher-than-expected rise in earnings in its first-quarter thanks to an impressive rebound in sales.
In the three months to November 2020, operating profit climbed 23.3% to JPY113bn (US$1.09bn) thanks to large gains from Uniqlo Japan and Greater China. Net earnings, however, were down slightly to JPY70.3bn from JPY70.9bn a year earlier. Consolidated revenues were down 0.6% year-on-year to JPY619.7m.
Uniqlo Japan reported a rise in revenue and a significant increase in profit in the quarter, with revenue up 8.9% to JPY253.8bn, and operating profit up 55.8% to JPY60bn. First-quarter same-store sales increased by 7.3% year-on-year.

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