Quick Retailing, the Japanese conglomerate which owns Uniqlo, J Model and Concept, has right this moment revealed file annual outcomes, topping its expectations.
The group studies its turnover topped 3 trillion yen for the first-time and its working revenue surpassed 500 billion yen, pushed by Uniqlo’s world development.
Internet revenue reached £1.9 billion (372 billion yen), up 26% year-on-year, for the 12 months ending 31 August 2024.
Revenues have been up 12% to £15.9 billion (3.10 trillion yen), exceeding the group’s earlier estimates of £15.7 billion (3.07 trillion yen). Revenues have been boosted by robust development from Uniqlo’s worldwide operations, which made up greater than half of group turnover.
Uniqlo worldwide gross sales rose 19% to £8.8 billion (1.71 trillion yen), boosted by robust performances in North America and Europe. Working revenue exceeded 15% in all main markets, apart from China, which noticed a weaker second half.
Nevertheless, Quick Retailing’s International Manufacturers division – which is made up of Concept, J Model, Comptoir Des Cotonniers, Princesse Tam.Tamm and PLST – noticed a gross sales dip of two% to £715 million (139 billion yen). The corporate reported a “lacklustre” gross sales efficiency in each the US and Asia.
Within the monetary assertion, the corporate mentioned: “Now we have been accelerating the diversification of our earnings pillars and establishing strong frameworks to facilitate stronger world earnings. As well as, UNIQLO model visibility is increasing worldwide, and demand is rising not simply amongst native prospects, however vacationers as effectively.”
Trying forward, Quick Retailing “count on income and revenue to rise”. For the fiscal 12 months, it expects revenues to achieve £17.5 billion (3.4 trillion yen), up by 9.5% and consolidated working revenue to achieve 530 billion yen, up by 5.8%.
