Fast Retailing, the Japanese parent company of clothing brand Uniqlo, has seen continued turnover growth in the third quarter. International activities have performed particularly well.
Dropback in Japan
The concern recorded a turnover of 1.82 trillion yen (15 billion euros) in the first nine months of its financial year, an increase of 7 % compared to the same period last year. The company result was 247.6 billion yen (2 billion euros), with a net profit of 158.6 billion yen (1.3 billion euros).
Uniqlo, by far the most important brand in Fast Retailing, is stagnating on the domestic market: turnover receded slightly (- 0.5 %) to 701 billion yen (5.7 billion euros). By contrast, revenue from Uniqlo International saw strong growth (+ 14.6 %) up to 820.5 billion yen (6.7 billion euros). The company result of the international activities increased by more than 11 %.
Beside Uniqlo, Fast Retailing's portfolio consists of GU, Theory, Comptoir des Cotonniers, PLST, Princesse tam.tam and J Brand. At GU, the group's second biggest brand, turnover increased by 11.2 % up to 185.3 billion yen (1.52 billion euros). The other brands combined generated a turnover of 113.6 billion yen (930 million euros) in the first nine months of the financial year – a decrease of 1 % on an annual basis.