Uniqlo’s parent company Fast Retailing reported record third-quarter revenues of ¥555bn (£4bn), up 7.3% on the previous year, despite a dip in performance for Uniqlo Japan.
The Japanese retail group reported a 9.3% jump in operating profits to ¥74.7bn (£550m), for the three months to May 2019, as Uniqlo International and sister brand GU producing further strong performances.
Operating profit increased by 14.9% at Uniqlo International to ¥36.3bn (£267m), and revenue was up 14.5% to ¥240bn (£1.7bn) for the period.
GU outperformed expectations with a 105.8% increase in operating profit to ¥12.1bn (£155m). Fast Retailing launched GU (pronounced “jee you”) in 2008 as a younger, cheaper and trendier sister to Uniqlo.
However, Uniqlo Japan reported an expected fall in both revenue and profit as it shifted the date of its anniversary Sale later to June. Revenues fell by 0.5% to ¥209.7bn (£1.5bn), and operating profit was reported at ¥28.9bn, (£210m) down 7.5% on the previous year.
Fast Retailing’s Global Brands segment also underperformed with revenue slipping by 1.1% to ¥35.9bn (£264m) and operating profit falling 29% to ¥1.4bn (£10m).
Expectations for full-year performance remain unchanged, with operating profit forecast at ¥260bn (£1.9bn), up more than 10% on the previous year to August 2018.