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Fast Retailing FY20 revenue slips to ¥2,009 bn

16
Oct '20
Pic: Shutterstock
Pic: Shutterstock
Fast Retailing, a Japanese manufacturer and retailer company, posted 12.3 per cent decline in its revenue to ¥2,008.8 billion (Japanese Yen) during the fiscal 2020 that ended on August 31, 2020 compared to the revenue of ¥22,90.5 billion in previous year. Business profit for the year dropped 35.9 per cent to ¥170.0 billion (FY19: ¥265.0 billion).
 
Gross profit for the year fell 12.8 per cent to ¥975.8 billion (¥1,119.5 billion). Selling, general and administrative expenses were down 5.7 per cent to ¥805.8 billion (¥854.3 billion). Company’s operating profit plunged 42.0 per cent to ¥149.3 billion (¥257.6 billion). Profit attributable to owners of the parent slipped 44.4 per cent to ¥90.3 billion (¥162.5 billion).
 
Uniqlo Japan's revenue decreased 7.6 per cent to ¥806.8 billion (¥872.9 billion). Same-store sales declined 6.8 per cent. However, e-commerce sales rose 29.3 per cent over the year.
 
Uniqlo International revenue declined 17.7 per cent to ¥843.9 billion (¥1,026.0 billion). E-commerce sales jumped 20 per cent due to stronger conveying of information on products designed to satisfy stay-at-home demand and an expansion in the number of markets offering e-commerce operations.
 
GU segment’s revenue grew 3.1 per cent in FY20 to ¥246.0 billion (¥238.7 billion). Same-store sales declined 5.2 per cent, but e-commerce sales proved strong, expanding roughly 60 per cent.
 
Global Brands sales dipped 26.9 per cent to ¥109.6 billion (¥149.9 billion). 
 
For the upcoming fiscal FY21, Fast Retailing expects revenue of ¥2,200.0 billion and business profit of ¥265.0 billion.

Fibre2Fashion News Desk (JL)


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