Fast Retailing reports 22.9 percent increase in H1 profit

The Fast Retailing Group reported a decline in revenue but a large jump in profits in the first half of fiscal 2021 with consolidated revenue totalling 1.2028 trillion yen, down 0.5 percent and operating profit rising to 167.9 billion yen, up 22.9 percent. The company said in a release that rise in profit can be attributed primarily to large increases in profit from Uniqlo Japan and Greater China including Mainland China market, Hong Kong market, and Taiwan. Uniqlo Japan’s March same-store sales including online sales increased by 40.2 percent, while total sales including online sales increased by 41.5 percent.