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’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.
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.
Zara, H&M and Gap may be slowly reopening their stores but the coronavirus epidemic has had a devastating financial impact on the fast fashion sector, which needs a radical overhaul if it is to recover, experts say.