UNIQLO Japan profit sees ‘considerable dip’ in H1 2022

Its operating profit stood at ¥80.9b, a 17.3% drop.

UNIQLO Japan saw a “considerable dip” in both profit and revenue in the first half of the year after it dropped to ¥80.9b and ¥442.5b, respectively.

Each reflected a 17.3% year-on-year (YoY) and 10.2% YoY decline, Fast Retailing Co. Ltd. reported over the same period.

The brand also saw its same-store sales decline by 9% YoY, which was due to lost sales opportunities due to shortages in some strong-selling Winter ranges.

This also comes against a strong performance in the previous year, when loungewear and AIRism masks were in demand.

Moreover, Fast Retailing reported that e-commerce sales also slipped with online sales dropping 1.9% YoY to ¥72.4b

“However, this figure represented an approximate 40% increase compared to the first half of fiscal 2020, so e-commerce is still trending on a favorable expansion track,” the report noted.