
Uniqlo owner: Fast Retailing Soars Q1 Profit Fueled by Robust Overseas Sales
Uniqlo owner: Fast Retailing Soars Q1 Profit Fueled by Robust Overseas Sales
Fast Retailing, the parent company of the popular Uniqlo clothing brand, reported a substantial 25% surge in first-quarter operating profit, reaching 146.7 billion yen ($1.01 billion). The remarkable performance was attributed to robust overseas sales, setting the stage for a potential third consecutive year of record earnings.
Despite the challenges posed by the stringent zero-COVID policy in mainland China, Uniqlo's business in the region experienced significant revenue and profit growth during the first quarter. The mainland China market rebounded after over two years of slowdown due to pandemic-related restrictions.
In fiscal 2023, Fast Retailing achieved record earnings of 381.1 billion yen, following ...