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%.
Uniqlo is diving deeper into recycling. It has unveiled the first products to be launched from its Re-Uniqlo initiative that collects its clothing no longer needed by customers “and gives them new life and new value”.
Uniqlo has formed Uniqlo Team Sweden with 13 athletes as its first “team brand ambassador, to strengthen its partnership with the Swedish Olympic and Paralympic Committees by collaborating in a range of projects”.
Japanese clothing chain Uniqlo is likely to report strong same-store sales for June, taking the edge off a profit plunge for owner Fast Retailing due to store closures and weak demand amid the coronavirus pandemic.