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Fast Retailing reports Q1 FY21 revenue of ¥620 bn

Jan '21
Pic: Fast Retailing/ GU
Pic: Fast Retailing/ GU
Fast Retailing, a Japanese manufacturer and retailer, posted 0.6 per cent decline in its revenue to ¥619.7 billion (Japanese Yen) in its first quarter (Q1) FY21 that ended on November 30, 2020 compared to the revenue of ¥623.4 billion in same period previous year. Business profit for the year rose 25.6 per cent to ¥111.5 billion (Q1 FY20: ¥88.8 billion).
Gross profit for Q1 FY21 grew 3.8 per cent to ¥324.8 billion (¥312.9 billion). Selling, general and administrative expenses were down 4.8 per cent to ¥213.2 billion (¥224.0 billion). Company’s operating profit jumped 23.3 per cent to ¥113.0 billion (¥91.6 billion). Profit attributable to owners of the parent slipped 0.7 per cent to ¥70.3 billion (¥70.9 billion).
Uniqlo Japan's revenue decreased 8.9 per cent to ¥253.8 billion (¥233.0 billion). Same-store sales were up 7.3 per cent due to strong sales of items designed to satisfy stay-at-home demand, sports utility wear, and Fall Winter ranges.
Uniqlo International revenue declined 7.2 per cent to ¥260.6 billion (¥280.7 billion) due to strong profit gain from Uniqlo Greater China and a move back into the black for Uniqlo South Korea after reporting a loss in FY20.
GU segment’s revenue rose 4.9 per cent in Q1 FY21 to ¥76.5 billion (¥72.9 billion). While, Global Brands revenue slipped 22.3 per cent to ¥28.0 billion (¥36.1 billion).

Fibre2Fashion News Desk (JL)

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