Tuesday 23 October
Powered by Ajaxy
Oct 12, 2018 @ 11:19

Uniqlo operator logs record profits

 

Uniqlo’s parent company said Thursday that it had logged a record annual net profit on a sharp rise in sales abroad that outstripped those in its home market of Japan.

Fast Retailing announced a net profit of 154.8 billion yen ($1.4 billion), a 30-percent gain on last year.

Turnover at Asia’s biggest retailer, a fierce rival of Zara, Gap and H&M, soared by 14 percent to 2.1 trillion compared to last year’s figures.

Uniqlo represented 80 percent of the turnover and the firm said it expected growth to continue at the brand, which now sponsors tennis stars Roger Federer and Kei Nishikori.

Uniqlo sales abroad grew by 27 percent compared to last year, while turnover in Japan climbed nearly seven percent, about the same growth rate as last year.

Fast Retailing said it expected fresh record profits in the next trading year, forecasting a net profit of 165 billion yen from turnover of 2.3 trillion.

Please follow and like us:

Tags: , , , , ,

Related Stories
Logistics investments, new technology... Faced with fierce online competition from the likes of Amazon, affordable
Using easily accessible brands like Uniqlo for her shirt, Zara for her jeans and Keds
Spain's fashion retail giant Inditex said Wednesday its net profit rose 6.0 percent in the
Uniqlo's parent company said Thursday that its annual net profit more than doubled from a


 

Trending News

Recommended on sister sites

Copyright © 2018 Bilyonaryo - Latest news on the richest Filipinos and Family Business.