Uniqlo parent Fast Retailing reports strong Q1 results

In the first quarter, revenues at Fast Retailing rose to 895.1 billion yen, up 10.4 percent and business profit increased to 156.9 billion yen, up 11 percent. Operating profit for the quarter rose by 7.4 percent to 157.5 billion yen.

The company is maintaining its initial estimates for FY25 of consolidated revenue of 3.4 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, up 3.5 percent.

Uniqlo Japan and international post positive Q1

Uniqlo Japan revenue of 266.6 billion yen increased by 9 percent, while operating profit reached 52.1 billion yen, up 12.1 percent and same-store sales expanded by 7.3 percent. The company attributed the strong results in Japan to positive sales in September and also November, both offering suitable product mixes for warm and colder temperatures, respectively. The 40th Uniqlo Thank You Festival also contributed to the performance.

Uniqlo International revenue of 501.7 billion yen increased by 13.7 percent, while operating profit of 83.5 billion yen expanded by 7.4 percent. The company said that Greater and Mainland China reported a decline in revenue and a sharp contraction in profits, while the Southeast Asia, India & Australia regions witnessed a large increase in revenue and profit. North America and Europe also reported expansion of revenue and profit.

Fast Retailing records revenue growth at GU but profit dips sharply

GU brand revenue of 90.6 billion yen rose by 3.1 percent, while operating profit of 9.8 billion yen declined by 20.2 percent. The company added that same-store sales remained flat year-on-year due to insufficient development of hit products as well as shortages of strong-selling items.

On the other hand, Global Brands revenue of 35.7 billion yen dropped by 2.4 percent but operating profit jumped 373.3 percent to 1.8 billion yen due to improved SG&A ratios at Theory and all other labels.

Fast Retailing forecasts an annual dividend per share of 450 yen for the year, split equally between interim and year-end dividends of 225 yen each.