Strong demand for Uniqlo: international sales up nearly 25%

Fast Retailing, the parent company of the Uniqlo clothing brand, is raising its full-year forecasts thanks to strong demand in the U.S. and Europe. The fashion group continues to grow in its home market of Japan as well.

Focus on the United States

In the first six months of the fiscal year (September through February), Fast Retailing posted revenue of 2.05 trillion yen (11 billion euros), representing 14.5% growth. Sales in Japan rose by 7.4% to 581.7 billion yen (3.1 billion euros), while Uniqlo’s international revenue increased by 22.4% to 1.24 trillion yen (6.7 billion euros). Meanwhile, net profit climbed by a whopping 19.6% to 279.29 billion yen (1.5 billion euros).

With an ambitious annual sales target of 10 trillion yen (approximately 63 billion euros), the company is now focusing primarily on expansion in North America and Europe. Given the strong momentum in the first half of the year, the Japanese apparel group is now also raising its forecasts: for the full year, Fast Retailing now expects revenue of approximately 21 billion euros, 14.7% more than last year. Net profit is expected to come in nearly 11% higher at 2.6 billion euros.

The company recently signed a major agreement with Major League Baseball in the U.S., resulting in Dodger Stadium now having a “Uniqlo Field.” Founder Tadashi Yanai previously stated his goal of achieving 3 trillion yen (about 19 billion euros) in annual sales in the U.S., with the ambition to then expand further into Central America.