Uniqlo owner sees profits jump 24% to £2.46bn in FY24
Uniqlo experienced growth across a range of markets, including Greater and Mainland China, South Korea, Southeast Asia, India, Australia, North America and Europe
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Uniqlo’s parent company, Fast Retailing, has revealed that full-year profits rose by 24.9% to ¥283.4bn (£2.46bn), while total group revenues rose 12.2% to surpass ¥3tn (£16.2bn).
In the full year ended 31 August, operating profits also rose by 31.4% to ¥500bn (£2.7bn).
It comes as Uniqlo in Japan and internationally achieved a 4.7% rise in revenues to ¥932.2bn (£5.03bn) and an operating profit rise of 32.2% to ¥155.8bn (£0.8bn) for the full year.
The clothing retailer’s performance was attributed to same-store sales rise of 3.2%, following an 11.7% expansion in the second half. This improved the full-year gross profit margin by 2.9 points.
During FY24, Uniqlo experienced growth across a range of markets, including Greater and Mainland China, South Korea, Southeast Asia, India, Australia, North America and Europe.
For FY25, Fast Retailing is on track to hit consolidated revenues of ¥3.4000tn (£17bn), which would mean a rise of 9.5%, while consolidated profits are expected to rise 5.8% and profits attributable to the owners of the parent company rising 3.5%.
