Uniqlo parent's net hits record 296b yen

Fast Retailing (6288), the owner of Japanese clothing brand Uniqlo, announced yesterday that its full-year net profit for the period ending in August increased by 8.4 percent year-on-year to a record 296.2 billion yen (HK$15.5 billion), supported by a post-pandemic rebound in China and the depreciation of the yen.

From September 1, 2022, to August 31, 2023, the clothing retailer's revenue surged by 20.2 percent year-on-year to 2.77 trillion yen, while operating profit grew by 28.2 percent year-on-year to 381.0 billion yen.

The attributed growth is a result of Uniqlo International achieving significant increases in both revenue and profits across all markets.

Uniqlo International's revenue surpassed 50 percent of the consolidated total for the first time, and its operating profit expanded to approximately 60 percent.

Meanwhile, the Hong Kong-based international clothing retailer, Giordano International (0709), reported a slight year-on-year decline of 1 percent in revenue to HK$869 million in the third quarter, with its same-store sales increasing by 0.5 percent compared to the previous year.