REPORT_ Uniqlo International generated gains in revenue and income in fiscal 2013 with sales rising 64 percent year-on-year and operating income expanding by 66.8 percent. Estimates for Uniqlo International during the year ending August 31,
2014, include a 39.3 percent rise in net sales and a 52.6 percent increase in operating income.
For fiscal
2013 sales of the Global Brands segment were up 34.8 percent year-on-year, and operating income was up 20.1 percent year-on-year. The low-priced GU casual wear brand performed especially well, reporting gains in both sales and income. Double-digit growth in same-store sales and the brisk opening of new stores during the business year helped boost GU sales. The Theory fashion label reported another record performance in fiscal 2013 with strong gains in both sales and income. The French fashion labels, Comptoir des Cotonniers (women's fashion) and Princesse tam.tam (corsetry, lounge wear and swimwear), fell short of target and reported a decline in operating income. The J Brand premium denim label generated the expected level of sales but fell short of target in terms of operating income. Estimates for the Global Brands segment for the year ending August 31, 2014, include a 21.2 percent rise in net sales and a 37.4 percent increase in operating income.
Group sales are expected to expand by 16.4 percent year-on-year in fiscal 2014. Operating income is expected to grow by 17.4 percent, ordinary income is expected to increase by 4 percent and net income to rise by 1.8 percent.
For fiscal 2013 Fast Retailing ordinary income expanded by an impressive 19 percent year-on-year. For fiscal 2013 Uniqlo Japan net sales expanded 10.2 percent year on year supported by a 7.3 percent increase in same-store sales. However, a fall in the gross profit margin and an increase in business cost ratios led to a decline in operating income of 5.4 percent year-on-year. In fiscal 2013, Uniqlo Japan boosted customer numbers by 12 percent year-on-year. At the end of August 2013, the total number of directly operated Uniqlo Japan stores stood at 834 stores, a net increase of 10 stores compared to end August 2012. Estimates for Uniqlo Japan during the year ending August 31, 2014, include a 6.5 percent rise in net sales and an 18.2 percent increase in operating income.
Image: Uniqlo
