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Uniqlo owner Fast Retailing sees 18% rise in annual profit, plans more stores in China

TOKYO :Fast Retailing Co, owner of clothing brand Uniqlo, forecast 18 per cent growth in annual profit on Thursday, as it plans to expand in key markets including China, anticipating that the rising cost of living will make shoppers more price conscious.Fast Retailing, known for its fleece jackets and inexpen ....

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Uniqlo says no forced Xinjiang labor used in making its products


Uniqlo says no forced Xinjiang labor used in making its products
TOKYO Uniqlo owner Fast Retailing on Thursday stressed that the company does not use any materials linked to human rights violations in the supply chain amid rising concerns over forced labor in China s Xinjiang region.
Chief Financial Officer Takeshi Okazaki spoke to the media after the apparel maker posted a net profit of 151 billion yen ($1.38 billion) for the first nine months of this fiscal year, up 67% from a year ago.
French prosecutors are investigating Fast Retailing and other global apparel makers for alleged crimes against humanity in Xinjiang, according to local media reports. On Wednesday, the U.S. Senate passed legislation to ban the import of products from Xinjiang, where U.S. officials say Uyghurs and other Muslim groups face ongoing genocide. ....

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Uniqlo Owner's Stock Hits Record as Shoppers Go Casual in Pandemic


Uniqlo Owner’s Stock Hits Record as Shoppers Go Casual in Pandemic
Bloomberg
1/14/2021
Lisa Du and Grace Huang
© Bloomberg
Pedestrians walk past the Uniqlo Tokyo flagship store, operated by Fast Retailing Co., in the Ginza district of Tokyo, Japan, on Thursday, June 18, 2020. Uniqlo joins a constellation of businesses seeking to offer new products and services as the coronavirus pandemic upends lifestyles around the globe, changing how people work, dress and eat.
(Bloomberg) Fast Retailing Co.’s lineup of functional and casual attire continued to lure value-conscious shoppers whose preferences are changing in the midst of the Covid-19 pandemic, helping to push the Uniqlo operator’s first-quarter earnings close to an all-time high. ....

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