Japanese fast fashion company Fast Retailing has announced financial results for the fiscal year ended August 31, 2017.
The company, which owns labels like Uniqlo, J Brand, Comptoir des Cotonniers, GU, Princesse Tam-Tam and Theory, noted a 4.2 per cent increase in its consolidated revenue (year-on-year basis) to ¥ 1.8619 trillion.
The operating profit for the retailer jumped 38.6 per cent to ¥ 176.4 billion in the review period.
During the reporting period, Fast Retailing’s net profit grew 2.5 times on profit gains at Uniqlo International. The brand contributed greatly to the consolidated results, significantly lower impairment losses, and foreign exchange gains.
Operating profit for Uniqlo in international market grew by 95.4 per cent in the year ended.
Furthermore, GU brand’s revenue reached ¥ 340.1 billion, up 3.5 per cent from FY 2016. It operating profit, however, dropped 39 per cent to ¥ 13.5 billion.
Fast Retailing now predicts that in FY 2018 its consolidated revenue will reach ¥ 2.0500 trillion, and operating profit will be ¥ 200.0 billion. It further expects around 1.9 per cent year-on-year increase in same-store sales (including online sales) at Uniqlo Japan.
