Fast Retailing Q3 sales up 19.1 percent

REPORT_ The Fast Retailing Group reported cumulative

gains in both sales and income for the third quarter of fiscal 2013 or the nine months from September 2012 through May 2013. Consolidated sales rose by 19.1 percent year-on-year, operating income rose by 4 percent, ordinary income rose by 19.6 percent and net income rose 21.9 percent.

Fast Retailing is a holding company. The specialty retailer Uniqlo is the group's mainstay operation and offers high quality casual wear. For Uniqlo Japan, sales increased but income fell in the third quarter from March to May 2013. While same-store sales growth proved strong at 9.3 percent year-on-year, a contraction in the gross profit margin knocked operating income lower. Uniqlo Japan expects operating income to rise 3.6 percent year-on-year in fiscal 2013.

In the third quarter Uniqlo Japan constituted 61.1 percent of consolidated sales and 71.2 percent of group income. In the nine months through May 2013, Uniqlo Japan generated a 7.6 percent year-on-year gain in sales.

Uniqlo International continued to generate considerable growth in both sales and income in the third quarter from March to May 2013. The significant gain in profits can be attributed to its commitment to open large numbers of new stores, primarily in the Asian region, and also to consistent strong growth in same-store sales in Asia.