Fast Retailing revenue grows 7.5% to ¥2.2905 tn in FY2019

14 Oct '19
3 min read
Pic: Fast Retailing
Pic: Fast Retailing

Fast Retailing Co, Ltd achieved a record performance in the 12 months to August 2019. Its revenue grew 7.5 per cent year-on-year to ¥2.2905 trillion and operating profit rose 9.1 per cent to ¥257.6 billion. The group received large profit contributions from Uniqlo International and GU. Profit attributable to owners of parent rose 5 per cent to ¥162.5 billion.

In fiscal 2019, revenue from the Uniqlo International segment topped ¥1 trillion for the first time, and the segment reported a consistently high operating profit margin of 13.5 per cent. Overall, Uniqlo International revenue and profit both increased significantly over the fiscal year, with revenue totalling ¥1.0260 trillion yen (+14.5 per cent year-on-year) and operating profit increasing to ¥138.9 billion yen (+16.8 per cent year-on-year).

Breaking down the strong Uniqlo International performance into individual markets, Uniqlo Greater China reported strong gains in both revenue and profit, with revenue expanding by 14.3 per cent year-on-year to ¥502.5 billion and operating profit rising by 20.8 per cent year-on-year to ¥89 billion yen.

In terms of regional FY2019 performance, Uniqlo Greater China and Uniqlo Southeast Asia & Oceania reported further strong results characterised by double-digit rises in both revenue and profit. Both revenue and profit of Uniqlo Southeast Asia & Oceania expanded by approximately 20 per cent year-on-year in fiscal 2019 with revenue reaching the ¥170 billion. Uniqlo South Korea reported a decline in both revenue and profit. Uniqlo USA greatly reduced its operating loss in fiscal 2019. Uniqlo Europe achieved rising revenue and profit, with sales reaching ¥100 billion, and the Russian operation continuing to generate especially strong revenue and profit gains.

Revenue and profit gains propelled GU to its best performance ever. Its revenue increased to ¥238.7 billion (+12.7 per cent), operating profit ¥28.1 billion (+139.2 per cent). The oversized sweat wear, knitwear, and t-shirts of GU became hit products boasting sales of several million units.

The revenue of Global Brands declined 2.9 per cent to ¥149.9 billion. Operating profit moved back into the black to the tune of ¥3.6 billion, compared to a ¥4.1 billion loss in FY2018 following the reporting of a ¥9.9 billion impairment loss.

Uniqlo Japan reported rise in revenue and fall of profit in fiscal 2019, with revenue totalling ¥872.9 billion (+0.9 per cent year-on-year) and operating profit totalling ¥102.4 billion (-13.9 per cent year-on-year). While the warm winter effect knocked profit considerably lower in the first half, Uniqlo Japan operating profit then recovered to report a double-digit year-on-year gain in the second half.

In terms of new-store activity, Uniqlo International opened its first store in the Netherlands in Amsterdam in September 2018, followed by a first store in Denmark in Copenhagen in April 2019, a first store in Italy in Milan in September 2019, and a first store in India in Delhi in October 2019. All these new stores got off to a strong start.

For FY2020, Fast Retailing Group estimates for consolidated revenue of ¥2.4000 trillion (+4.8 per cent), consolidated operating profit: ¥275.0 billion (+6.7 per cent). All business segments are forecast to generate revenue and profit gains. At Uniqlo International, the Greater China and Southeast Asia & Oceania regions are expected to expand further. Uniqlo Japan is predicted to report a double-digit rise in full-year operating profit. GU and Global Brands are forecast to achieve higher revenue and profit in FY2020.

Fibre2Fashion News Desk (PC)

Leave your Comments

Esteemed Clients

Tradewind International Servicing
Thermore (Far East) Ltd.
The LYCRA Company Singapore  Pte. Ltd
Thai Trade Center
Thai Acrylic Fibre Company Limited
TESTEX AG, Swiss Textile Testing Institute
Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)
Taiwan Textile Federation (TTF)
Stahl Holdings B.V.,


Advanced Search