Fast Retailing announced another same-store sales increase for its Japanese Uniqlo operation on Tuesday with comparable sales (including online) rising 2% year-on-year. Meanwhile, total sales rose 1.8%.
Uniqlo's Japanese owner on Thursday said operating profits were higher than pre-pandemic levels in its Q1, boosted by China's resurgence and strong demand for stay-at-home clothes like jogging pants and loungewear.
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Fast Retailing has announced a “strategic plan to re-articulate the business model” of premium denim brand J Brand. That means it’s shifting it toward direct distribution and will cut some jobs in the months ahead.
Uniqlo owner Fast Retailing may have taken a 42% pandemic-linked hit in its latest year but it’s forecasting a 60%+ recovery in its operating profit in the current financial year that ends next August.
Fast Retailing is doing all it can to maximise sales opportunities for its brands and said Thursday that it’s adding sales space for its Theory and Comptoir des Cotonniers labels inside its Uniqlo Tokyo global flagship.
After a bump in August sales in Japan, Fast Retailing investors will look to the company's financial update on Thursday for signs that the recovery will last beyond a flurry of sales in masks and stay-at-home clothes.
Fast Retailing had good news on sales for its star Uniqlo brand in its domestic Japanese market on Friday. It said that same store sales at the chain and webstore during September increased by as much as 10%.