Fast Retailing, owner of Uniqlo, reports impressive profit and sales growth.
- Pre-tax profits increased by 27% to £2.86 billion this year.
- Sales saw a 12% rise, reaching £15.9 billion in total revenue.
- A strong international performance, notably in the US and Europe, contributed to a 19% growth.
- Successful social media campaigns boosted their product visibility and sales.
Fast Retailing, the parent company of Uniqlo, has announced a substantial increase in its financial performance. The company reported that pre-tax profits surged by 27% to £2.86 billion for the period, reflecting a significant improvement from the previous year’s figures.
The retail giant also experienced a 12% rise in sales, culminating in a total revenue of £15.9 billion. This growth has been predominantly driven by its international operations, which include markets in Europe and the United States. These regions saw a remarkable 19% increase in sales, contributing a substantial £8.7 billion to the overall figures.
Contributing to this success, Uniqlo recently expanded its presence in key locations. It inaugurated a new store at Coal Drops Yard in Kings Cross and is set to reopen its White City store in London. Earlier this year, the brand expanded on Oxford Street with the launch of its third store near Tottenham Court Road.
The growth trajectory has been further accelerated by targeted marketing initiatives. Fast Retailing had previously raised its profit outlook due to a 29% increase in its third-quarter operating profit. This rise was largely attributed to robust overseas sales, even as the Chinese market underperformed.
Uniqlo has captured the attention of younger generations, namely Gen Z and millennials, with products like the ‘banana’ bag gaining viral popularity on TikTok. Priced at £14.90, the bag’s unique shape and functionality became a talking point across social media platforms. Furthermore, the company’s diverse clothing range, including tops with built-in bras and pleated trousers, has also seen a positive reception online.
Fast Retailing’s strategic focus on Western markets and innovative online marketing has led to impressive financial gains.
