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Page 6 - Uniqlo Japan News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Fast Retailing makes impressive rebound in Q1

Earnings were up thanks to large gains from Uniqlo Japan and Greater China Fast Retailing, owner of the Uniqlo casual clothing brand, has reported a higher-than-expected rise in earnings in its first-quarter thanks to an impressive rebound in sales. In the three months to November 2020, operating profit climbed 23.3% to JPY113bn (US$1.09bn) thanks to large gains from Uniqlo Japan and Greater China. Net earnings, however, were down slightly to JPY70.3bn from JPY70.9bn a year earlier. Consolidated revenues were down 0.6% year-on-year to JPY619.7m. Uniqlo Japan reported a rise in revenue and a significant increase in profit in the quarter, with revenue up 8.9% to JPY253.8bn, and operating profit up 55.8% to JPY60bn. First-quarter same-store sales increased by 7.3% year-on-year.

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