Uniqlo owner Fast Retailing posted record earnings for a third year running as its international operations saw margins soar.
Operating profit rose 31% to Yen 500.9 billion (US$3.35 billion) in the year to end of August, from Y381.1 billion a year earlier.
The results were well ahead of consensus forecasts and the company’s own guidance of Y475 billion yen.
For the current year, the Japan-based group forecast another record with earnings expected to be at least Y530 billion.
Uniqlo said duty-free shopping in Japan and booming demand from its shop in the UK and elsewhere in Western markets had helped the figures, with a currency boost also working in its favour.
China remains the group’s largest market outside of Japan, but trading here was more difficult due to the country’s economic problems.
Founder Tadashi Yanai, Japan’s richest man, said consumers are more focused on value than luxury in a post-pandemic world, a trend that would work in Uniqlo's favour.