, APAC

Fast Retailing profit grows 12.7% to ¥189.2b in H1 2022

The company also projected an 8.4% growth in 2022.

Fast Retailing, which operates brands such as UNIQLO, GU and Theory, reported a consolidated operating profit ¥189.2b in the first half of the year, representing a 12.7% growth.

It also saw its revenue climb by 1.3% to ¥1.21t over the same period. The company attributed this to strong performances of its UNIQLO operations in South Asia, Southeast Asia and Oceania, North America, and Europe.

For the full year 2022, Fast Retailing revised up its projections to a growth of 8.4% to ¥270b in profit and 3.1% to ¥2.2t in revenue.

“This upward revision was fueled by the depreciation in the Japanese yen and incorporates a net finance income of ¥23.2b based on an assumed year-end exchange rate similar to the end February rate of US$1 = ¥115.6,” the company said.

Moreover, Fast Retailing expects UNIQLO International to continue generating revenue growth through the second half of its fiscal year from March to August.

As for its operating profit, the company sees it will remain steady as persisting restrictions in China offsets strong performances projected in its North America, Europe, and South Asia, Southeast Asia and Oceania markets.

“Breaking down the UNIQLO International estimates by geographical location, we expect full-year revenue from the Greater China region will decline and operating profit will drop sharply due to COVID-19 restrictions and other factors,” it said.

Fast Retailing expected its South Asia, Southeast Asia and Oceania market to record a double-digit growth in revenue and profit in 2022, whilst it sees the United Kingdom and European Union bloc to generate a large rise in revenue.

Follow the link s for more news on

Join Retail Asia community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Exclusives

Samsonite harnesses data to boost sales
The US luggage maker is boosting its online channel to drive revenue across Southeast Asia.
Hyper-personalised shopping rules in Southeast Asia
Data and analytics allow brands to optimise customer experience both online and in-store.
SSI Group boosts investment in unified retail
The company, which sells brands like Hermes and Cartier, is refining its omnichannel space.