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Uniqlo reports lacklustre UK sales

Uniqlo, the Japanese fast fashion chain, has said that its UK stores performed just below target in the six months to February.

Despite the lacklustre performance, the retailer’s international sales - including the UK, were 33.9% up in operating income to ¥ 7.8bln (£55m), driven by soaring sales in China, Hong Kong and South Korea.

Uniqlo plans to open 46 new international stores by August this year, bringing its total to 182.

Its Japanese like-for-like sales dipped 9.9% over the period causing global net income to plunge from ¥ 55.3bln to ¥ 41.6bln. The retailer has reduced its full year forecast for Japan following the earthquake and tsunami which caused like-for-likes to plummet 10.5%.

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