Uniqlo parent sews up a good three quarters

Fast Retailing (6288) saw net profit for the first three quarters of its 2023 fiscal year increase by 0.3 percent year on year to 238.5 billion yen (HK$13.5 billion).

For the nine months ending on May 31, it achieved a record high in both revenue and profitability, with consolidated revenue rising by 21.4 percent to 2.14 trillion yen compared to last year, and operating profit rising by 21.9 percent to 330.5 billion yen.

The performance was driven by the Uniqlo International and GU business segments.

Uniqlo International saw a total revenue of 109.76 billion yen, while operating income totalled 184.1 billion yen, an increase of 38.6 percent year on year.

The company has raised its forecast, with total consolidated revenues for the full year expected to reach 2,730 billion yen, an increase of 18.6 percent year on year.