Fewer Discounts, Cost-Cutting, and Foreign Exchange Gain Boosted Fast Retailing’s Result
No-moat Fast Retailing’s group revenue in the first quarter was up 1.6% year over year, helped by a 3.4% increase in Uniqlo Japan’s revenue. Overall gross profit margin in the quarter remained at 51.2%, as the 170-basis point improvement in Uniqlo International and 30-basis point improvement in Uniqlo Japan more than offset lower margins at Global Brands. Operating profit in the quarter jumped 16.7% year over year, as the group delivered its promise in cutting costs, reducing selling, general an...Fast Retailing is engaged in the control and management of overall group activities as a holding company. Co., through its subsidiaries, is mainly involved in the operation of chain stores, selling casual clothing and accessories at reasonable prices, called "UNIQLO" throughout Japan as well as in overseas. Co., through its subsidiaries, is also engaged in the planning, manufacture and sale of clothing under the brand names of "GU," "Theory," "COMPTOIR DES COTONNIERS," "PRINCESSE tam.tam" and "J Brand." In addition, Co. is engaged in the leasing of real estate.
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