Fast Retailing FY’12 sales up 13.2 percent

The Fast Retailing Group generated significant gains in both sales and income in fiscal 2012 or the 12 months from September 2011 through to the end of August 2012. Consolidated sales increased 13.2 percent year on year to 928.6 billion Chinese yuan (14.7 billion US dollars), while operating income expanded 8.7 percent to 126.4 billion yuan (20.1 billion US dollars) and net income expanded an impressive 31.8 percent to 71.6 billion (11.3 billion US dollars).

Uniqlo Japan sales expanded but income contracted in fiscal 2012. Sales increased 3.3 percent to 620.0 billion (98.6 billion US dollars) while operating income contracted 3.6 percent to 102.3 billion (16.2 billion US dollars). Uniqlo International segment achieved gains in both sales and income, with sales expanding 63.4 percent to 153.1 billion (24.3 billion US dollars) and operating income expanding 22.9 percent to 10.9 billion (1.7 billion US dollars).

While the company continued its retail expansion in Asia, the loss reported in the USA expanded as sales at the three New York stores proved soft. Overall, the slowdown in economic conditions led to operations falling short of target in the fourth quarter from June to August 2012 in China and South Korea.

In fiscal 2013, company expects its consolidated sales to top one trillion yen (12.8 billion US dollars) for the first time, expanding 13.7 percent to 1.056 trillion yuan (16.7 billion US dollars), while operating income is expected to rise 13.5 percent to 143.5 billion yuan (22.8 billion US dollars) and net income to rise 17.9 percent to 84.5 billion yuan (13.4 billion US dollars).