Fast Retailing profit soars, mainly Uniqlo
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Uniqlo parent Fast Retailing has reported a record full-year profit, due to strong growth in Asia and lessening losses in the US. And the company says current year performance to date suggests even better results lie ahead. Fast Retailing profit rose 34 per cent to US$2.11 billion in the year to August.
In July the company reported a solid third-quarter, again based on strong sales across Asian markets. Across the first nine months, sales outside Japan rose 28 per cent year on year and operating profit outside Japan soared 65 per cent, driven largely by Uniqlo Asia.
Online sales were also strong as the Uniqlo brand expanded its reach to new markets.
Questions & Answers
Q.What was Fast Retailing's total profit for the full year?
What was Fast Retailing's total profit for the full year?
Fast Retailing reported a record full-year profit of US$2.11 billion. This figure represents a significant 34 per cent rise compared to the previous year, demonstrating strong financial performance.
Q.What were the main reasons for Fast Retailing's increased profit?
What were the main reasons for Fast Retailing's increased profit?
The primary reasons for the profit increase were strong growth across Asian markets and reduced losses in the United States. Online sales for the Uniqlo brand also performed well as it expanded into new markets.
Q.How did sales and operating profit outside Japan perform?
How did sales and operating profit outside Japan perform?
Sales outside Japan rose by 28 per cent year on year across the first nine months. Operating profit outside Japan saw an even larger increase, soaring by 65 per cent, predominantly driven by Uniqlo Asia.
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