TOKYO—Quick Retailing stated Thursday that it achieved record-high gross sales and revenue for the primary 9 months of its fiscal 12 months, following efforts by the group to diversify its income streams. In response to the sturdy efficiency, the Uniqlo mum or dad firm raised its outlook for the 12-month interval ending Aug. 31.
For the 9 months ended Might 31, Quick Retailing noticed a 0.3 p.c improve in its web revenue in contrast with the identical interval a 12 months earlier, for a complete of 238.5 billion yen, or $1.72 billion at present trade charges.
Working revenue for the interval grew by 21.9 p.c 12 months on 12 months, totaling 330.5 billion yen.
The corporate posted nine-month gross sales of two.14 trillion yen, representing yearly progress of 21.4 p.c.
Among the many group’s varied enterprise segments, Uniqlo’s worldwide enterprise did significantly effectively, reporting a gross sales improve of 30.5 p.c to greater than 1 trillion yen. The phase noticed sturdy efficiency in markets together with Asia, Oceania, Europe, North America and China.
“Sturdy advertising and marketing and demand for core merchandise helped drive gross sales progress at Uniqlo U.S.A., and gross sales of merchandise developed particularly to satisfy the wants of U.S. clients additionally contributed considerably to income,” Quick Retailing stated in a launch. “In Europe, core merchandise similar to pants and linen shirts had been effectively acquired by clients. As well as, spherical mini shoulder baggage and bra prime merchandise generated appreciable curiosity on social media, serving to to broaden the group’s buyer base amongst girls and youthful generations.”
In its residence market of Japan, Uniqlo noticed a rise in gross sales however a decrease revenue, hindered by a weak yen. Income within the enterprise phase rose by 10.7 p.c to 709.7 billion yen.
GU, Quick Retailing’s “trend casualwear” model, posted nine-month progress in each gross sales and revenue, with income growing by 19.7 p.c on the 12 months, to complete 227.9 billion yen.
“The sturdy efficiency was generated by a tightening of the model’s product vary, making certain a enough provide of mass trend development objects throughout the season, and strengthening advertising and marketing actions to create a number of fashionable merchandise,” Quick Retailing stated in an announcement. “As well as, the corporate has been reforming its group and advancing product growth frameworks, which has laid the inspiration for the creation of trendsetting, highly-perfected merchandise.”
The retailer’s document efficiency within the nine-month interval led it to lift its full-year steering. For the 12 months ending Aug. 31, it now expects its web revenue to contract by 4.9 p.c on the 12 months to 260 billion yen.
The corporate is forecasting a 24.4 p.c improve in 12-month working revenue, coming in at 370 billion yen.
Quick Retailing is predicting yearly gross sales progress of 18.6 p.c, for a complete of two.73 trillion yen.
