Uniqlo owner Fast Retailing's FY21 profit almost doubles to ¥170 bn

As business at Uniqlo recovered from the COVID-19 impact, the Japanese firm Fast Retailing posted 6.2 per cent revenue growth to ¥2,132.9 billion (Japanese Yen) in FY21 ended on August 31, 2021, over the prior fiscal. Operating profit for the year shot up 66.7 per cent to ¥249.0 billion (FY20: ¥149.3 billion), while profit attributable to the company during FY21 expanded 88.0 per cent to ¥169.8 billion (¥90.3 billion).

 

As business at Uniqlo recovered from the COVID-19 impact, the Japanese firm Fast Retailing posted 6.2 per cent revenue growth to ¥2,132.9 billion (Japanese Yen) in FY21 ended on August 31, 2021, over the prior fiscal. Operating profit shot up 66.7 per cent to ¥249.0 billion, while profit attributable to the company increased 88.0 per cent to ¥169.8 billion.#

Sales from Uniqlo Japan increased 4.4 per cent to ¥842.6 billion (¥806.8 billion) due to strong sales in the first half. While Uniqlo International recorded 10.2 per cent sales jump to ¥930.1 billion (¥843.9 billion) backed by improved sales in China, North America, Europe and also 20 per cent increase in e-commerce sales. However, South Asia, Southeast Asia and Oceania reported a decline in revenue with COVID-19 exerting a persistently large adverse impact on performance throughout the year, according to the Japanese manufacturer.

 

As business at Uniqlo recovered from the COVID-19 impact, the Japanese firm Fast Retailing posted 6.2 per cent revenue growth to ¥2,132.9 billion (Japanese Yen) in FY21 ended on August 31, 2021, over the prior fiscal. Operating profit shot up 66.7 per cent to ¥249.0 billion, while profit attributable to the company increased 88.0 per cent to ¥169.8 billion.#

Furthermore, solid sales of chef’s pants and other items led GU brand sales to moderately grow 1.4 per cent to ¥249.4 billion. The company stated that GU suffered lost sales opportunities caused by shortages of strong-selling items, and produced some products that did not fully grasp the prevailing fashion trend. On the other hand, Global Brands sales slipped 1.3 per cent to ¥108.2 billion with Theory operation revealing improvement in sales.

 

As business at Uniqlo recovered from the COVID-19 impact, the Japanese firm Fast Retailing posted 6.2 per cent revenue growth to ¥2,132.9 billion (Japanese Yen) in FY21 ended on August 31, 2021, over the prior fiscal. Operating profit shot up 66.7 per cent to ¥249.0 billion, while profit attributable to the company increased 88.0 per cent to ¥169.8 billion.#

Gross profit for FY21 surged 10.1 per cent to ¥1,073.9 billion (¥975.8 billion), while business profit ¥818.4 billion (¥170.0 billion). In its outlook for upcoming fiscal, the retail giant said that it expects to achieve revenue of ¥2.2 trillion, up 3.1 per cent YoY, with operating profit rising 8.4 per cent to ¥270.0 billion YoY.