Uniqlo Q3 revenues reach £4bn

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Uniqlo Fast Retailing
// Uniqlo parent company Fast Retailing said third-quarter revenues rose 7.3% to £4bn
// For the 3 months to May, Uniqlo’s operating profits jumped 9.3% to £550m

Uniqlo owner Fast Retailing has recorded a rise in third quarter revenues despite its Japan division suffering from a sales decline.

The Japanese fashion retailer’s third quarter revenues rose 7.3 per cent to ¥555 billion (£4 billion).

Meanwhile for the three months to May, Uniqlo’s operating profits jumped 9.3 per cent to ¥74.7bn (£550 million).

At Uniqlo International, of which Uniqlo in the UK is a part, operating profit increased by 14.9 per cent to ¥36.3 billion (£267 million) while revenue was up 14.5 per cent to ¥240 billion (£1.7 billion) for the period.

Uniqlo Japan said it expected a dip in both revenue and profits as it shifted the date of its anniversary sale later to June.

Revenues slipped 0.5 per cent to ¥209.7 billion (£1.5 billion), and operating profit was down £210 million at ¥28.9 billion, which is a decrease of 7.5 per cent on the previous year.

However, Fast Retailing’s expectation for the full-year performance remain unchanged, with operating profit forecast expected to be at ¥260 billion (£1.9 billion), which is an increase of 10 per cent from last year.

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