UNIQLO International operating profit rises 42% in 2022
Its Europe and US markets particularly saw a large improvement.
UNIQLO International reported it registered “large rises” in revenue and operating profit in 2022.
Over the same period, UNIQLO International saw its revenue increase by 20.3% to JPY 1.118t ($7.58b) and its operating profit go up by 42.4% to JPY 158.3b ($1.07b).
“Those revenue and profit figures were boosted by the progressive weakening of the yen over the year, but the segment also managed to generate stronger revenue and significantly higher profits in local currency terms,” the report read in part.
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Its North America and Europe recorded a large revenue increase and an operating profit margin of about 10%; whilst its South Asia, Southeast Asia & Oceania markets registered “impressive” revenue growth of 60%.
“With the exception of the Greater China region, which was heavily impacted by COVID-19 restrictions on movement, all operations achieved significant increases in both revenue and profit for the year,” according to the company.
The Greater China region saw its revenue inch up by 1.2% to JPY 585.5b ($3.97b), whilst its operating profit dropped 16.8% to JPY84b ($569.7m).