On April 8, Beijing time, Fast Retailing Group, the parent company of Uniqlo, released its financial report for the first half of fiscal year 2021. From September 1, 2020 to February 28, 2021, Fast Retailing’s revenue reached 1.2028 billion yen (approximately (approximately RMB 72 billion), a year-on-year decrease of 0.5%, which is equivalent to a shortfall of 5.7 billion yen (approximately RMB 340 million) in half a year.
Operating profit was 168 billion yen (approximately RMB 10 billion), a year-on-year increase of 22.9%. Fast Retailing Group said in its financial report that profits fell and profits increased significantly. This was mainly due to the substantial growth in profits recorded in Japan and Greater China. Southeast Asia, South Asia and Oceania, which were severely affected by the COVID-19 epidemic, and Businesses in North America and Europe experienced significant declines in revenue and profits.
The financial report shows that in the first half of the year, Uniqlo’s overseas revenue accounted for a decrease of 2.5% to 59.1%, of which sales in Greater China were 310.8 billion yen, accounting for 25.8% of total revenue, a year-on-year increase of 3.4% %. As Uniqlo’s second largest market, Greater China has further increased its contribution to Uniqlo’s performance.
Fast Retailing Group stated that this was mainly due to improvements in distribution costs, advertising and promotions, and in line with the significant expansion of e-commerce business.
Japan’s “home base” is Fast Retailing Group’s largest market, with revenue in the first half of the year of 492.5 billion yen, accounting for 40.9%; other regions in Asia and Oceania ranked third, with sales of 110 billion yen. Accounting for 9.1%; sales in North America and Europe were relatively flat at 100.9 billion yen, accounting for 8.4%.
For the full-year results for the year ending August 31, 2021, Fast Retailing Group raised its revenue forecast to 2.21 trillion yen from the previous 2.200 billion yen, and its operating profit forecast was raised from 245 billion yen. to 255 billion yen. </p
