Uniqlo owner posts fourth consecutive year of record profits

Uniqlo owner Fast Retailing has reported its fourth consecutive year of record profits, with group performance lifted by strong sales in Japan and continued international growth.

The company said pre-tax profit rose 16.8% year-on-year to £3.18bn for the 12 months to 31 August, while operating profit increased 16.6% to £2.76bn. Revenue climbed 9.6% to £16.6bn and gross profit rose 9.3% to £6.21bn.

Fast Retailing credited the results to the performance of its core Uniqlo business, including “record” sales in Japan of £5.04bn. Uniqlo International also achieved record performance, with operating profit up 9.1% to £1.51bn and sales reaching £9.34bn.

According to chief executive Tadashi Yanai, the group planned to “continue to strengthen the opening of high-quality stores around the world”. 

Fast Retailing forecasts sales to rise 10.3% to £18.36bn next year, as it looks to target a total of 3,594 stores by the end of August 2026.

For the year ahead, Fast Retailing expects another record performance, forecasting revenue of 3.75 trillion yen (£18.5bn) and profit growth of 10.7%. The group plans to raise its annual dividend to 520 yen (£2.55) per share.

The latest results come as Uniqlo continues its UK expansion, with a new store opening at Birmingham’s Bullring this week on 16 October. Sites in Bristol’s Cabot Circus and Leeds are due to follow next year, after the brand’s Liverpool opening in April.