Uniqlo parent Fast Retailing posts strong sales and profit growth

Fast Retailing revenue crossed 3 trillion yen, up 12.2 percent and operating profit over 500 billion yen, up 31.4 percent, while profit attributable to owners of the parent of 371.9 billion yen, increased by 25.6 percent.

The company plans to offer a year-end dividend of 225 yen per share. The company said in a statement that when added to the 175 yen interim dividend, that would generate a scheduled annual dividend of 400 yen for FY24, an increase of 110 yen compared with the previous year.

Review of results achieved by Uniqlo Japan and International Uniqlo Japan achieved FY2024 revenue of 932.2 billion yen, up 4.7 percent and operating profit of 155.8 billion yen, up 32.2 percent.

The company’s same-store sales increased 3.2 percent on the back of an 11.7 percent expansion in the second half. Full-year gross profit margin improved by 2.9 points.

Uniqlo International revenue of 1.7118 trillion yen, increased by 19.1 percent, while operating profit of 283.4 billion yen, rose by 24.9 percent.

Uniqlo reported growth across Greater China, Mainland China, South Korea, Southeast Asia, India, Australia, North America and Europe.

GU posts revenue and profit increases GU’s full year revenue of 319.1 billion yen, increased by 8.1 percent, and operating profit of 33.7 billion yen by 28.9 percent. The company added that GU’s same-store sales increased on strong sales of products that captured global mass fashion trends.

During the year, the company opened its first GU flagship store outside Japan in the United States in September 2024.

Global Brands revenue of 138.8 billion yen, declined by 2 percent and business profit of 0.1 billion yen, decreased sharply by 76.2 percent, while operating profit reached 0.6 billion yen compared with a 3 billion yen loss in FY2023.

The company further said that Theory brand revenue declined on lacklustre sales performances in both the United States and Asia. PLST reported significantly lower revenue due to a reduced store network, while the gross profit margin improved significantly and operating profit moved into the black. Comptoir des Cotonniers reported significantly lower revenue, but losses contracted as operational reforms improved overall cost structures.

For FY25 consolidated revenue is expected to reach 3.4000 trillion yen, up 9.5 percent, consolidated operating profit of 530 billion yen, up 5.8 percent, and profit attributable to owners of the parent of 385 billion yen, an increase of 3.5 percent.

Annual dividend per share is forecasted to be 450 yen, split equally between interim and year-end dividends of 225 yen each, representing an increase in the full-year dividend of 50 yen per share.