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Fast Retailing posts increase in profit, raises outlook

By Prachi Singh


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Credits: Image: Uniqlo; Covent Garden store

In the nine months to May 31, 2023, consolidated revenue at Fast Retailing Group were 2.1435 trillion yen, up 21.4 percent year-on-year and operating profit rose to 330.5 billion yen, up 21.9 percent. Profit attributable to owners of the parent increased to 238.5 billion yen, up 0.3 percent.

According to the revised estimates for FY2023, Fast Retailing now expects full-year consolidated revenue to total 2.7300 trillion yen, up 18.6 percent, while operating profit to rise to 370 billion yen, up 24.4 percent, and profit attributable to owners of the parent to total 260 billion yen, down 4.9 percent.

Uniqlo Japan profit declines, International continues to report positive growth

Uniqlo Japan revenue rose to 214.5 billion yen, up 8.1 percent in the third quarter but operating profit contracted to 32.2 billion yen, down 5.7 percent. Nine month period revenue rose 10.7 percent to 709.7 billion yen, while operating profit contracted by 3 percent to 99.6 billion yen.

For the three months through May 2023, Uniqlo International revenue rose to 342.3 billion yen, 38 percent and operating profit increased to 61.4 billion yen, up 89.5 percent.

The company said in a statement that the Greater China region reported increases in revenue and profit with performance from the Mainland China market in particular exceeding expectations after generating a year-on-year rise in same-store sales of over 40 percent.

The Southeast Asia, India & Australia region reported a significant rise in revenue and an increase in profits, while both North America and Europe continued their strong performances by reporting considerably higher revenue and profit levels.

Uniqlo International reported nine month revenue of 1.0976 trillion yen, up 30.5 percent and operating profit of 184.1 billion yen, an increase of 38.6 percent.

Fast Retailing posts rise in revenue and profit at GU

During the third quarter, GU revenue rose to 82.4 billion yen, up 21.7 percent and operating profit increased to 12.7 billion yen, up 50.6 percent.

The company attributed strong sales growth to the emergence of new hit products. The brand reported revenue for nine months totaled 227.9 billion yen, up 19.7 percent and operating profit totaled 25.8 billion yen, up 44.6 percent.

Global Brands third quarter revenue rose to 36.2 billion yen, an increase of 16.5 percent and the operation moved back into the black with the recording of an operating profit of 1.3 billion yen for the quarter.

The Theory operation reported revenue totaled 106.4 billion yen, up 18.2 percent and operating profit totaled 1.4 billion yen, up 105.4 percent for the nine month period.

The company forecasts an annual dividend per share in FY2023 of 280 yen, split into an interim dividend of 125 yen and a year-end dividend of 155 yen. This represents an increase of 73.3 yen in the annual dividend.

Fast Retailing
uniqlo international
uniqlo Japan