Home / Knowledge / News / Apparel/Garments / UNIQLO experiences contraction in Q3 profit, FAST RETAILING
UNIQLO experiences contraction in Q3 profit, FAST RETAILING
15
Jul '10
FAST RETAILING CO., LTD achieved significant gains in both revenue and profit through the third quarter, the nine months to May 2010. Net sales rose 22.7% year on year to ¥ 659.0bln, operating income rose 27.1% year on year to ¥ 123.4bln and net income increased by 35.2% year on year to ¥ 67.1bln.

UNIQLO Japan did experience a contraction in profit in the third quarter (March-May 2010) as unseasonably cold weather hindered customer traffic and same-store sales fell. While we have revised downward our second half estimates for UNIQLO Japan, we are still predicting the operation will generate increased sales and profit for the full business year through August 2010. We now estimate full-year net sales at UNIQLO Japan will rise 13.0% year on year to ¥ 608.0bln and operating income will rise 17.4% year on year to ¥ 130.0bln. Sales of SILKY DRY and SARAFINE innerwear made from functional materials proved strong during the spring/summer season. Our plan to open 31 large-format stores this business year is on track, and we expect to achieve our aggregate 808-store, including 20 franchise stores and 102 large-format stores, by the end of the business year,

UNIQLO International is enjoying a favorable expansion particularly in the Asian region. UNIQLO brand awareness is also increasing in the US and Europe generating improvements in sales and profit per store. We opened our first store in Russia in April of this year, while the May 15 opening of our fourth global flagship store, the Shanghai West Nanjing Road Store, met with phenomenal success. We estimate UNIQLO International net sales for the full business year through August 2010 will rise 93.2% to ¥ 73.0bln and that operating income will rise 301.2% to ¥ 6.5bln.

Within the Japan Apparel segment, our low-priced fashion operation g.u. continues its strong performance. Our Global Brands segment is producing considerable gains in both revenue and income following the incorporation of the Theory operation onto consolidated accounts from the third quarter 2009.

For the full business year through August 2010, we now estimate consolidated net sales will rise 19.0% year on year to ¥ 815.0bln and consolidated operating income will increase 22.4% year on year to ¥ 133.0bln. This represents a downward revision to our previous estimate announced April 8 of ¥ 19.0bln in net sales and ¥ 7.5bln in operating income. These estimates translate into profit per share of 663.16 yen. We predict an annual dividend per share of 230 yen: a 115 yen as interim dividend and a 115 yen as year-end dividend. This would represent a 70-yen rise in the dividend per share over last year.

Click here for more details

FAST RETAILING CO LTD

Must ReadView All

Textiles | On 26th May 2017

Lenzing unleashes new eco-friendly fibre

There's a new eco-friendly fibre on the anvil—Austrian speciality...

Apparel/Garments | On 26th May 2017

PVH Corp Q1 2017 revenue rises 4%

The first quarter revenue of fiscal 2017 at apparel marketer PVH Corp ...

Courtesy: Levi Strauss & Co

Apparel/Garments | On 26th May 2017

LS&Co. to fund water saving solutions

LS&Co. will fund to the tune of more than $350,000 the solutions...

Interviews View All

Sunil Rathore
Lacoste India

‘New vendor is welcome if he offers cost, quality and timely delivery’

Kaizad Hansotia
GetNatty

Competition is the best thing that can happen to a startup

Rahul Bhadani
Looksgud

Navigating through catalogues is a bit hasslesome

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

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

news category


Related Categories:
May 2017

May 2017

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

SUBSCRIBE


Browse Our Archives

GO


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