Fast Retailing Posts Record Sept.-Nov. Profits

Economy

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Tokyo, Jan. 10 (Jiji Press)--Fast Retailing Co. on Thursday reported record profits and revenue for the three months ended in November thanks to robust sales at its Uniqlo casual clothing store chain in Japan.

The Japanese company posted a consolidated net profit of 131.9 billion yen for the quarter, up 22.4 pct from a year earlier, and an operating profit of 157.5 billion yen, up 7.4 pct. Revenue rose 10.4 pct to 895.1 billion yen.

Sales of summer clothing at Uniqlo stores in Japan rose sharply especially in September because of high temperatures. Profits and revenue also grew in Southeast Asia, the United States and Europe.

Fast Retailing reported a sharp profit decline in its GU clothing brand. The company plans to beef up the brand’s product development capability.

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[Copyright The Jiji Press, Ltd.]

Jiji Press