Home / Knowledge / News / Apparel/Garments / FY16 9M sales up but profits down at Fast Retailing
FY16 9M sales up but profits down at Fast Retailing
19
Jul '16
For the first nine months ended May 31, 2016, parent company of Uniqlo brand, Fast Retailing Group recorded an increase in sales but a fall in profit.

According to Fast Retailing, consolidated sales totaled ¥1.4346 trillion, up 6.4 per cent year on year, while consolidated operating profit reached ¥145.8 billion, down a steep 23.0 per cent.

Consolidated profit before income tax stood at ¥122.0 billion, down a massive 41.9 per cent, from a fiscal ago period and profit attributable to owners of the parent reached ¥71.0 billion, a drop of 46.4 per cent.

Among its various brands, Global Brands reported a rise in both revenue and profit, while both Uniqlo Japan and Uniqlo International recorded an increase in sales but a decline in profit.

“Furthermore, due to the yen appreciating at the end of May than at the beginning of the period, foreign exchange losses in other expenses were down ¥14.8 billion year on year to ¥6.7 billion,” the company said.

“While the yen equivalent of long-term assets in foreign currencies etc. reduced, so foreign exchange losses in finance costs were down ¥43.4 billion year on year to ¥23.4 billion,” Fast Retailing explained.

“As a result, consolidated profit before income tax declined by a considerable 41.9 per cent year-on-year over the same period,” the retailer averred.

However, the Group posted a clear improvement in consolidated results for the three months to May 31, 2016, with consolidated sales rising 6.2 per cent year over year.

Consolidated operating profit too expanded 18.6 per cent over the prior fiscal's same quarter, due to a recovery in performance at both, Uniqlo Japan and Uniqlo International. (AR)

Fibre2fashion News Desk - India


Must ReadView All

Textiles | On 18th Aug 2017

Turkey imposes temporary duty on POY from 7 countries

Turkish ministry of economy has announced imposition of provisional...

Textiles | On 18th Aug 2017

GST return filing deadline for transitional credit

For businesses who want to avail the transitional input tax credit...

Apparel/Garments | On 18th Aug 2017

AEPC wants clarity on minimum wages for garment sector

The Apparel Export Promotion Council (AEPC) has urged the Indian...

Interviews View All

Smith Vaghasia
Sanado India

Online remains the best destination for shopping

Karan Toshniwal
Orange O Tec

Contemporary industry is paying more and more attention to the...

Mandeep Nagi
Shades of India

Women value something that is unique and has a flavour of India

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

August 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
66.7%
No
16.7%
Skip
16.7%

Total Votes: 30

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
43.3%
No
36.7%
Skip
20.0%

Total Votes: 30

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
83.3%
No
6.7%
Skip
10.0%

Total Votes: 30

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
60.0%
No
10.0%
Skip
30.0%

Total Votes: 30


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search