Uniqlo parent Fast Retailing sees profit rise this fiscal year
18th October 2021, Mumbai:
UNIQLO is a clothing apparel company, which was originally founded in Yamaguchi, Japan in 1949 as a textiles manufacturer.
Interestingly what has clearly supported the cause of Fast Retailing, owing fashion giant Uniqlo, China, and Asia-Pacific markets have conspicuously helped offset the not so strong its home Japanese market demand.
Its earnings to rise by 3% to hit another record high of 175 billion yen ($1.54 billion) in the year ending next August, is a good sign for this global group. Everything went from favorable revenue to rise by a similar extent to 2.2 trillion yen over the corresponding period.
What is reassuring is that Online numbers have also been in line with street expectations, with sales hiked by encouraging 20 percent in the period in question.
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