Robust Quarterly Results for Fast Retailing Boosted by Cost Weather and Cost-Cutting Initiatives
No-moat Fast Retailing posted an impressive set of first-quarter results, with sales up 17% and operating profits up 29%, thanks to low temperatures across its operating markets and management’s efforts to reduce selling, general, and administrative costs, or SG&A. Cost-cutting, coupled with reduced discounts, further lifted margins. These results suggest that most businesses except the global brands beat the company’s targets. There appears to be ample room for cost reduction, which suggest...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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