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Uniqlo parent company warns of slower growth this year

Fast Retailing, the Japanese parent company of fast fashion retailer Uniqlo, has reported another year of double-digit increases in sales and profits but warned that growth will slow in the coming year.

The group saw sales increase 21.6% to 1.68 trillion yen (£9.2bn) for the year to August 31 and net profit soar by 47.6% to 110.03 billion yen (£601m).

It expects sales growth to slow to 13% and net profits to slow to 4.5% for the year to August 2016.

Fast Retailing is the parent company of other brands and retailers including J Brand, Comptoir des Cotonniers, Gu, Princesse Tam-Tam and Theory.

@Tara_Hounslea

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