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Fast Retailing Q1 operating profit up 16.7 percent

By Prachi Singh

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Business

Fast Retailing revenue in the first quarter rose 1.6 percent to 528.8 billion Japanese yen (4.6 billion dollars) and operating profit was up 16.7 percent to 88.5 billion Japanese yen (0.77 billion dollars). Profit before income taxes increased 34.2 percent and profit attributable to owners of the parent jumped 45.1 percent.

Revenue at Uniqlo Japan of 238.8 billion Japanese yen (2.08 billion dollars) improved 3.4 percent, while operating profit of 45.6 billion Japanese yen (0.39 billion dollars) increased 1.8 percent. Same-store sales including ecommerce expanded 2.5 percent. The company said, same-store sales dipped in September and October, but recovered in November after falling temperatures boosted sales of core winter items.

Uniqlo International sales down, GU profit dips

Revenues at Uniqlo International were down 0.2 percent to 196.5 billion Japanese yen (1.71 billion dollars) but operating profit at 30.1 billion Japanese yen (0.26 billion dollars) jumped 44.6 percent. The company said, revenue in local-currency rose in all areas and performances from Uniqlo Greater China and Uniqlo Southeast Asia & Oceania were strong. Uniqlo USA loss declined during the period. At the end of November 2016, the company operated 1,009 stores.

Global Brands revenue of 92.7 billion Japanese yen (0.81 billion dollars) improved 1.1 percent but operating profit declined 22.7 percent. Revenue at GU was up but profit decreased.

The company’s estimated for fiscal 2017 remain unchanged. Consolidated revenue is expected to be 1.850 trillion Japanese yen, a rise of 3.6 percent and operating profit at 175 billion Japanese yen (1.53 billion dollars) an increase of 37.5 percent.

Picture: Uniqlo Facebook

Fast Retailing
Uniqlo