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The Markets
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The Markets
by Proactive
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The Markets
by Proactive
Proactive UK has moved.
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Retail & consumer

Uniqlo gets home boost as world domination plan progresses

Uniqlo owner Fast Clothing reported a solid rise in profits in its first quarter as a good performance in its Japanese home market offset further weakness in China.

The value clothing chain posted a 7.4% rise in operating profit to Y157.6 billion yen (US$996 million) in the three months through November, just below market forecasts.

Revenues rose by 10.4% to Y895.1 billion.

Sales in Japan were boosted by a surge in duty-free shopping amid a tourism boom in Japan fuelled by a weak yen.

Results were also strong in North America and Europe where Fast Retailing is expanding rapidly in pursuit of an ambition to become the world's leading clothing brand.

International revenue of Y051.7 was up by 13.7 % while operating profit rose 7.4% to Y83.5 billion.

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