Uniqlo parent company sees 12.2% revenue growth in 2024
Fast Retailing Co, the parent company of Uniqlo, yesterday announced its fiscal results for 2024 (September 1, 2023, to August 31, 2024). Total revenue reached 3.13 trillion Japanese yen (approximately $21.1 billion), up 12.2% YoY; operating profit was 500.9 billion yen ($3.4 billion), a 31.4% increase; and net profit was 371.9 billion yen (around $2.5 billion), rising 25.6%. In Japan, Uniqlo reported revenue of 932.227 billion yen ($6.3 billion, up 4.7%) and operating profit of 155.8 billion yen ($1.1 billion, up 32.2%). Overseas, revenue was 1.7118 trillion yen ($11.6 billion, up 19.1%) with an operating profit of 283.4 billion yen ($1.9 billion, up 24.9%). In China, revenue grew by 9.2% to 677 billion yen ($4.6 billion), while operating profit rose by 0.5% to 104.8 billion yen ($700 million). However, the second half of the fiscal year saw declines due to high comparisons from the previous year and weak consumer demand, while Taiwan experienced revenue and profit growth.