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Japan | FAST RETAILING topped 2 trillion yen in sales in August

Oct 12, 2018.Ichiro KumegawaTokyo, JP
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UNIQLO Ginza(Left)FAST RETAILING CEO, Tadashi Yanai(Right)

FAST RETAILING's consolidated financial statements for August 2018 were announced. Net sales 19 billion dollars* (YoY + 14.4%), Operating profit 2.1 billion dollars* (YoY + 33.9%), Profit before tax 2.16 billion dollars* (YoY + 25.5%), and Net income was 1.5 billion dollars* (YoY +31.4%). It is the first time that the company has exceeded 2 trillion yen (approx. 18 billion dollars*) in annual sales. Despite of the apparel recession which not only Japanese apparel companies but also INDITEX and H&M are struggled because of the leaving of fast fashion boom, the good results of FAST RETAILING showed the strength of the company.

Also, the sales revenue of overseas UNIQLO which was 7.9 billion dollars* (YoY + 26.6%) exceeded the sales revenue of domestic one which was 7.7 billion dollars* (YoY +6.7%) for the first time. Revenue from GU business was increasing sales and decreasing profit that Net sales was 1.9 billion dollars* (YoY + 6.4%) and Operating profit was 104 million dollars* (YoY -13.1%). In the global section, sales revenue was 1.4 billion dollars* (YoY + 9.5%), then operating profit was a loss of 36 million dollars (previous year was a surplus of 4 million dollars*). Consolidated financial estimates for the next fiscal year are sales revenues of 20.4 billion dollars (YoY + 8.0%), operating profit of 2.4 billion dollars* (YoY + 14.3%) and profit before tax of 2.4 billion dollars* (YoY + 11.3%).

*1 USD=112 JPY