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Whoa, Uniqlo parent Fast Retailing’s Operating Profit jumps 33.9%

Japan’s Fast Retailing, which owns brands like Uniqlo, J Brand, Comptoir des Cotonniers, G.U., Princesse Tam-Tam, and Theory, has witnessed a 33.9 percent growth in twelve months to August 2018 with its operating profit reaching ¥ 236.2 billion.

During the period, Fast Retailing recorded revenue of ¥ 2.1300 trillion, up by 14.4 percent.

Uniqlo, the key brand, witnessed ¥ 864.7 billion in revenue, up by 6.7 percent and operating profit was ¥ 119.0 billion, up 24.1 percent. Same-store sales increased by 6.2 percent.

Uniqlo’s international revenue grew by 26.6 percent to ¥ 896.3 billion; and operating profit zoomed 62.6 percent to ¥ 118.8 billion in FY 2018.

Tadashi Yanai, Chief Executive officer at Fast Retailing, recently revealed plans to expend ¥ 100 billion on automating its warehouses worldwide to deal with labour shortages, lessen storage costs and ship products to consumers at a much faster speed. The company will also increase its thrust on the digital business.

In FY 2019, Fast Retailing expects even better growth. The estimation for consolidated income is ¥ 2.3000 trillion and ¥ 270 billion as operating proceeds.

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