The latest outlook comes after the retailer posted stronger-than-expected fourth-quarter results. — Bloomberg
TOKYO: Fast Retailing Co is aiming for higher sales in the 2025 fiscal year, after its expansion into newer markets in the West helped the Japanese apparel-store operator offset a slowdown in China.
The company behind the clothing brands Uniqlo and GU said it expects operating profit for the year started Sept 1 to be 530 billion yen (US$3.55bil), up from the previous fiscal year’s 500 billion yen and higher than the 514.95 billion yen estimated by analysts.
The latest outlook comes after the retailer posted stronger-than-expected fourth-quarter results, boosted by robust growth in revenue and profit from its business across North America, Europe and countries across the Asia-Pacific.
Sales in China, currently Fast Retailing’s biggest market outside Japan, declined in the past two quarters.
The company reiterated a plan announced earlier this year to close under-performing stores and revamp bigger and better-located ones to drive sales in the country. — Bloomberg
