Fast Retailing Co., Ltd. increased its consolidated sales during the fiscal year ending in August 2017 by 4.2% year-on-year to 1,861.9 billion yen.
Operating profits grew by 38.6% to 176.4 billion yen, and net profits climbed 148.2% to 119.2 billion yen.
Overseas Uniqlo business sharply increased their profits and contributed to the group’s overall business performance.
Uniqlo sales in Japan rose by 1.4% to 810.7 billion yen, while operating profits decreased by 6.4% to 95.9 billion yen. The SG&A to net sales ratio increased 1.3 percentage points due to higher personnel and distribution expenses.
Uniqlo International sales climbed 8.1% to 708.1 billion yen, and operating profits rose by 95.4% to 73.1 billion yen. The sharp increase in operating profits was attributed to improved gross profit margins and leaner cost structures at all regional operations, as well as halving operating losses at Uniqlo USA.
Business in Global Brands posted a 3.5% increase in sales to 340.1 billion yen. Operating profits grew by 47.5% to 14.0 billion yen thanks to a sharp profit increase in Theory Brand and reduction of impairment losses in J Brand.