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Uniqlo sales soar by 56.1%

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

The company’s expanding international business accounted for much of the “considerable growth”.

The net profit for Uniqlo’s parent company Fast Retailing grew by 21.9% to 88.4bn yen (£589m) for the same period.

Fast Retailing’s global brands division, which includes brands such as Theory, Comptoir des Cotonniers and Princesse Tam-Tam, posted sales of 150.8bn yen (£1bn), an increase of 30.1% on the year.

The group’s expectations for the year ending August 31 remain unchanged. It expects net profit to rise 27% to 91.5bn yen (£610m)

The company is predicting operating profit will grow 16.6% to 147.5bn yen (£983m).

Earlier this month Uniqlo opened two stores in Bangladesh and announced the company’s expansion in China through the addition of four sister labels in the Shanghai flagship store this autumn.

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