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.
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 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.
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’s next collab will be with Jil Sander, in a reprise of a link-up with the fashion legend which first began 11 years ago - and a natural fit between the Queen of Less and the no pain at the cash register retailer.
The weather played less of a part than usual in sales at Fast Retailing’s Uniqlo chain during July with the company saying on Tuesday that its Japanese sales (including online) rose 4.7% year-on-year during the month.