Uniqlo posts record annual profits

Uniqlo founder

Uniqlo’s parent company Fast Retailing has posted record annual figures while expecting even better results throughout the coming year.

In the year to August Uniqlo’s international sales rose 26.6 per cent to 896.3 billion yen (£6 billion), outpacing sales in its home country of Japan of 864.7 billion yen (£5.8 billion) for the first time.

Operating profits came in line with analysts’ forecasts, growing 34 per cent to a record 236.2 billion yen (£1.77 billion).

It pinned its continuing success on sales growth in Asia and long awaited progress in the North American market, where it has struggled to establish a foothold.

Its online sales in Japan also recovered after a long period of lacklustre performance, rising 29 per cent and now accounting for seven per cent of total country revenues.

Despite breaking all previous records this year, the fashion brand expects figures for the coming fiscal year to be even higher, predicting operating profits of 270 billion yen (£1.81 billion), well above analysts’ forecasts of 263 billion yen (£1.76 billion).

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