The retail group behind Uniqlo forecast another record year amid a boost from strong international growth – including the UK.
Japanese giant Fast Retailing said profits rose by nearly a third to £1.9billion in the six months to the end of February, following a 15 per cent jump in revenues to £9.6billion.
The firm, which has more than 2,500 Uniqlo stores, with 19 in the UK, raised its full-year profit forecast, putting it on track for a fifth consecutive year of record earnings – despite higher transport costs amid war in the Middle East.
It said it had been buoyed by continued expansion, as Uniqlo is set to open its first store in Bristol this month, and another in Leeds.
Dan Coatsworth, head of markets at AJ Bell, said that the company was ‘reaping the rewards of aggressively rolling out Uniqlo stores,’ adding: ‘It has developed a reputation for selling good-quality, affordable clothes and offering a pleasant shopping experience.’
Going global: Uniqlo-owner Fast Retailing said profits rose by nearly a third to £1.9bn in the six months to the end of February following a 15% jump in revenues to £9.6bn
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