Fast Retailing released H1 results on Thursday, plus its Japanese Uniqlo performance for March. Both reports showed the business is doing well in general, even if the H1 figures showed some smaller brands struggling.
China’s top ride-hailing app dropped Swedish fashion retailer H&M from its listings as Chinese celebrities stopped endorsing foreign labels in a growing uproar over Western accusations of forced labour in Xinjiang.
Uniqlo owner Fast Retailing has hit a milestone in its global ambitions with its value as defined by its share price reaching ¥10.87trn (€85bn) this week, more than any other company in the global clothing sector.
Fast Retailing announced another same-store sales increase for its Japanese Uniqlo operation on Tuesday with comparable sales (including online) rising 2% year-on-year. Meanwhile, total sales rose 1.8%.
Uniqlo's Japanese owner on Thursday said operating profits were higher than pre-pandemic levels in its Q1, boosted by China's resurgence and strong demand for stay-at-home clothes like jogging pants and loungewear.