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Sales soar 23% at Uniqlo parent Fast Retailing

Fast Retailing, parent company of Uniqlo, Theory and Helmut Lang has reported a 23.1% rise in sales to 1.14 trillion yen (£7.3bn) for the year to August 31.

The company, which is Asia’s largest retailer, saw net profit jump 26.1% year-on year to 90.38 billion yen, (£580m) while operating profit rose 5.1% to 132.92 billion yen (£850m).

It is the first time the company has broken the one trillion yen mark.  

Uniqlo reported a 56.1% increase in net sales to 191.3bn yen (£1.27bn) for the nine months to May 31 this year.

The company’s expanding international business accounted for much of the “considerable growth” with sales at Uniqlo international rising 64% year-on-year to 251.1 billion yen (£1.6bn). Uniqlo Europe, which includes stores in the UK, France and Russia broke even for the year, in line with expectations.

The Uniqlo International store network expanded by 154 stores over the business year, reaching a total of 446 stores at end August13.

Uniqlo is to open its first store in Germany in spring next year. The 29,100 sq ft store in Berlin will sit over three levels and will offer menswear, womenswear and kidswear.

Fast Retailing also offered guidance for the current financial year, which will end August 31 2014, with net profit expected to rise 1.8% to 92 billion yen, (£590m) while operating profit will increase 17.4% to 156 billion yen (£1bn).

Full-year sales are forecast to grow 16.4% to 1.33 trillion yen (£8.5bn).


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