Fast Retailing, Uniqlo’s parent company, has revised its profit forecast upwards due to robust trading results.
- The company projects a ¥475bn (£2.27bn) full-year operating profit after strong performance.
- Consolidated revenue reported a significant rise of 10.4% year on year, reaching ¥2.3665 trillion (£11.522 trillion).
- Profit before income taxes saw an impressive increase of 33% year on year, totalling ¥477.7bn (£2.325bn).
- The group’s strategic focus includes digital retailing, sustainability, and expanding its GU business segment.
Fast Retailing, known for its brands Uniqlo and Theory, has adjusted its full-year operating profit forecast to ¥475bn, an indication of a strong second-half performance. This move underscores the firm’s strategic stability and commercial robustness in the current fiscal climate.
Within the nine months ending 31 May 2024, consolidated revenue rose by an impressive 10.4% year on year, amounting to ¥2.3665 trillion, while operating profit elevated by 21.5% to ¥401.8bn. The significant contribution to these figures includes increased duty-free sales, benefiting from a depreciated yen and accelerating consumer activity, particularly in China.
Uniqlo’s operations in North America, Europe, and South-East Asia exhibited remarkable revenue and profit escalations. Simultaneously, Uniqlo Japan experienced substantial financial improvements from March to May. The cumulative effect of these regional successes catalysed an unprecedented performance level on a consolidated scale for Fast Retailing.
Profit before income taxes expanded by a notable 33% year on year, reaching ¥477.7bn. This financial growth corresponds with Fast Retailing’s comprehensive strategy to diversify income streams and enhance digital retailing capabilities.
Regarding future growth, the group is focused on digital retailing advancement, reinforcing global income diversification, and aligning business development with sustainability practices. Moreover, Fast Retailing prioritises the expansion of the GU segment, founded as a sibling to Uniqlo in 2006, primarily concentrating on enhancing its market presence across Asia.
Fast Retailing’s strategic manoeuvres reflect a robust response to market dynamics, fostering stability and growth.
