Uniqlo's International Revenue For Last Quarter Is $2.3 Billion USD: For the first time, the retailer has more sales outside Japan than in it. While operating profit for the year just ended fell 42% and revenue declined 12%, Fast Retailing’s projections for 2021 represent a return to pre-pandemic levels. China Uniqlo Japan’s operating profit rose for the year, while same-store sales have increased every month since June compared to a year ago. readers found this article insightful, Copyright © 1995- (photo courtesy of Fast Retailing), A Uniqlo store in New York City: Fast Retailing opened its first overseas store in London in 2001. Stay ahead with our exclusives on Asia; the most dynamic market in the world. TOKYO: Asia’s largest retailer, Fast Retailing Co, is expecting profits to grow slightly beyond analyst expectations this fiscal year, driven by a robust recovery from the Covid-19 pandemic in the Uniqlo owner’s key China and Japan markets. Uniqlo's international revenue has surpassed its Japanese revenue since the year ended August 2018. This reflects the company's growing reliance on Asia's largest economy as it succeeds in bringing the pandemic under control. , It’s parent company Fast Retailing recently announced that Uniqlo’s international revenue for the recent quarter is 258.2 billion yen, which is about $2.3 billion USD. Please review our TOKYO -- In September 2001, a few weeks after the 9/11 attacks on the U.S., Japanese casualwear retailer Uniqlo opened a set of stores in London, marking the chain's first expansion overseas. While this fell short of the overall total of 814 in Japan, including franchise stores, it may exceed the Japanese tally before 2021 arrives. $(document).ready(function () { One place that the company hasn’t done so well, unfortunately, is in the US. Hennes & Mauritz AB and Zara operator Inditex’s shares are both down more than 15% for the year. Uniqlo is working to shorten lead time -- from product planning and production to sales -- worldwide from roughly a year. }) Overall, Uniqlo international revenue and profit both increased over the fiscal year, with revenue totaling 9.5 billion dollars, an increase of 14.5% year-on-year. At this clip, greater China is set to surpass Japanese revenue in the year ending August 2024. Fast Retailing has been growing at an incredible rate in the past 5 years and its confidence is reflected in its revenue forecast of 4.8% growth to USD 22 billion for FY2020. consumers Uniqlo added seven locations a month on average starting in June, branching out into China's regional cities. Sensitive to bilateral relations, Uniqlo does not use its globally ubiquitous Japanese-language logo in China. Star Media Group Berhad (10894D), {{item['V1 Header']}} The company’s stock has bounced back from a March low, closing at a record high yesterday before earnings were announced. This Chinese-speaking market is expanding rapidly, however. About 20% of Fast Retailing's Chinese sales were from online shoppers in the year ended August 2019, double that in Japan. Chinese shoppers do not shun higher-priced items at Uniqlo since the company, as an analyst at a Japanese brokerage pointed out, enjoys a more upscale brand image in China than in Japan. Uniqlo has struggled to gain popularity outside of urban cities like New York City and San Francisco. The market Uniqlo calls greater China -- the mainland plus Hong Kong and Taiwan -- generated 502.5 billion yen ($4.75 billion) in revenue for the year ended August 2019, around 20% of the total but still less than the 872.9 billion yen in Japan revenue. HYPEBEAST® is a registered trademark of Hypebeast Hong Kong Ltd. Gain access to exclusive interviews with industry creatives, think pieces, trend forecasts, guides and more. Cookie Policy
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