Japan’s Fast Retailing Group (FasdfssdfsstRetasdfssdfsiling), the parent company of Uniqlo, experienced a 42.9% drop in group profits in the nine months from September 2019 to May 31, 2020, with sales It fell 15.2% to 1,544.9 billion yen (equivalent to 14.3 billion U.S. dollars), and net profit plummeted 42.9% to 90.6 billion yen. Both profits and revenue declined, which was attributed to the “shock of the new crown epidemic.” <\/p>\n
On a unit basis, Uniqlo Japan\u2019s sales in the first nine months fell 14.6% to 598.8 billion yen, and operating profit fell 18.1% to 79.1 billion yen. <\/p>\n
Uniqlo\u2019s international division had a similar situation, with sales falling 17.9% to 673.5 billion yen and operating profit falling 58.5% to 51.8 billion yen. <\/p>\n
On the contrary, GU’s sales increased slightly by 1.1% to 187.4 million yen, but operating profit fell by 11.2% to 20.4 billion yen. <\/p>\n
At the same time, the sales of the Global Brands Division (GlobasdfssdfslBrasdfssdfsnds) fell 26.7% to 83.3 billion yen, with an operating loss of 6 billion yen. In the first 9 months of the 2019 fiscal year Monthly operating profit was 4.6 billion yen. <\/p>\n
Fast Retailing has now cut its annual profit forecast by half, with full-year operating profit expected to be 130 billion yen, and full-year consolidated revenue expected to decrease by 13.1%. to 1.99 trillion yen, and the estimated full-year net profit fell 47.7% to 85 billion yen compared with the same period last year. <\/p<\/p>\n","protected":false},"excerpt":{"rendered":"
Japan’s Fast Retailing Group (FasdfssdfsstRetasdfssdfsiling), the parent company of Uniqlo, experienced a 42.9% drop in group profits in the nine months from September 2019 t…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[46],"class_list":["post-4636","post","type-post","status-publish","format-standard","hentry","category-textile-fabric-news","tag-db"],"_links":{"self":[{"href":"https:\/\/www.textile-fabric.com\/index.php?rest_route=\/wp\/v2\/posts\/4636","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.textile-fabric.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.textile-fabric.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.textile-fabric.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.textile-fabric.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4636"}],"version-history":[{"count":0,"href":"https:\/\/www.textile-fabric.com\/index.php?rest_route=\/wp\/v2\/posts\/4636\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.textile-fabric.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4636"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.textile-fabric.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4636"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.textile-fabric.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4636"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}