Fast Retailing: Record Year with Uniqlo Growth Boost in Japan and Worldwide

Fast Retailing reached new record highs in both revenue and profit in fiscal year 2024. The company’s revenue increased by an impressive 12.2% to JPY 3.1 trillion, while operating profit rose by 31.4% to JPY 500.9 billion. Notably, the comeback of the Uniqlo brand in Japan, which had previously faced difficulties, is remarkable. An improvement in the gross profit margin by 50.8% reflects Uniqlo's growing popularity internationally. Both Uniqlo Japan and international markets significantly exceeded the company's expectations from July. Uniqlo's strong performance results from an expanded local customer base and demand driven by tourism. Analysts like Louise Deglise-Favre highlight Uniqlo's appeal with its offering of simple designs and strong value for money, which is increasingly convincing internationally. In North America, sales climbed by 32.8% to JPY 217.7 billion, and operating profit rose by 65.1% to JPY 34.8 billion. In Europe, Uniqlo also surprised with a sales increase of 44.5% to JPY 276.5 billion and an operating profit increase of 70.1% to JPY 46.5 billion. Fast Retailing’s Gu brand also recorded revenue and profit increases within expectations, with sales up by 8.1% to JPY 319.1 billion and operating profit rising by 28.9% to JPY 33.7 billion. For fiscal year 2025, Fast Retailing forecasts new records with an expected revenue increase of 9.5% to JPY 3.4 trillion and an expected operating profit growth of 5.8% to JPY 530 billion. The aim is to ensure sustainable corporate growth and establish itself as a global player through investments in human capital, the development of digital retail structures, and the expansion of global brands like Uniqlo and Gu.