Quick Retailing Posts File-high Efficiency for Third Consecutive Yr

TOKYO — Quick Retailing mentioned Thursday that it posted a record-high efficiency for the third consecutive yr, boosted by robust gross sales on the Uniqlo Worldwide section, which made up greater than half of the corporate’s general income for the primary time. 

The Uniqlo father or mother’s web revenue for the 12 months ended Aug. 31 grew by 8.4 % in contrast with the earlier yr, for a complete of 296.2 billion yen, or about $2 billion.

The corporate’s yearly working revenue gained 28.2 % on the yr, coming in at 381 billion yen. 

Quick Retailing mentioned gross sales for the interval totaled 2.77 trillion yen, representing year-on-year progress of 20.2 %. 

Among the many retailer’s numerous enterprise segments, Uniqlo Worldwide reported robust progress in each gross sales and working revenue. Its income rose by 28.5 % to 1.44 trillion yen, representing over half of the group’s complete gross sales for the primary time on an annual foundation. 

Uniqlo North America’s yearly gross sales gained 43.7 % to 163.9 billion yen, whereas gross sales from Uniqlo Europe have been up by 49.1 % to complete 191.3 billion yen. Robust progress additionally got here from the Higher China market, the place gross sales rose by 15.2 % to 620.2 billion yen, and the South Korea, Southeast Asia, India and Australia section noticed gross sales progress of 46.1 %, coming in at 449.8 billion yen. 

Uniqlo additionally carried out effectively in its dwelling market of Japan, the place gross sales have been up by 9.9 % to 890.4 billion yen. 

“Full-year same-store gross sales, together with on-line gross sales, rose by 7.6 % from a yr in the past,” Quick Retailing mentioned in an announcement concerning its Uniqlo enterprise in Japan. “Within the first half of the fiscal yr, same-store gross sales grew a powerful 10 % due to robust gross sales of Heattech innerwear and different winter objects. Similar-store gross sales elevated by 4.7 % within the second half, with the assistance of robust gross sales of Airism innerwear, AirSense and Pleated Pants. E-commerce gross sales elevated by 2.3 % for the total yr to 133.8 billion yen, with a 15.0 % share of complete income.”

Quick Retailing’s GU model, which is trendier and decrease priced than Uniqlo, noticed gross sales develop by 20 % from a yr in the past, totaling 295.2 billion yen. The corporate’s International Manufacturers section, which incorporates Concept, Princesse Tam Tam and Comptoir des Cotonniers, amongst others, posted a gross sales improve of 15 % to 141.6 billion yen. 

At a press briefing in Tokyo on Thursday, Quick Retailing’s chairman, president and chief government officer Tadashi Yanai mentioned the corporate is concentrating on complete income of 10 trillion yen sooner or later. 

“We are going to get there one merchandise by one merchandise, one retailer by one retailer,” Yanai mentioned.

He additionally talked about that the prime quality and innovation of Japanese textiles are central to Quick Retailing’s success, and that the corporate goals to create a way of Japanese aesthetics that resonates world wide.

Yanai, who’s 74 years outdated, additionally mentioned that the corporate is constructing a multilayered administration workforce that may result in a succession plan for his eventual retirement. On the media briefing, Yanai was joined by Daisuke Tsukagoshi, who was appointed government director, president and chief working officer of Uniqlo Co. Ltd. from September. The elder government mentioned whereas he’ll proceed to be very concerned within the day-to-day operations of Uniqlo worldwide, Tsukagoshi is one in all his potential successors. Yanai has not but revealed his retirement or a transparent succession plan. 

Quick Retailing additionally launched steering for its present fiscal yr, ending Aug. 31, 2024. It’s forecasting web revenue will develop by 4.6 % to 310 billion yen.

The retailer expects working revenue for the yr to achieve 18.1 %, for a complete of 450 billion.

The corporate is predicting its yearly income will attain 3.05 trillion yen, a rise of 10.2 % over the earlier yr.