Fast Retailing, the owner of fashion retailer Uniqlo, has reported soaring sales and profits for the full year as sales exceeded ¥3trn (£15.5bn) for the first time.

Uniqlos store at Coal Drops Yard, London

Source: Uniqlo

Uniqlo credited its new stores such as Coal Drops Yard London for ‘extremely strong sales’

Fast Retailing reported a 12.2% increase in sales to ¥3.10trn (£16.35bn) for the year to August 31, 2024.

Sales at Uniqlo International, including Uniqlo Europe, were up 19.1% to ¥1.71trn (£9.01bn), while sales in Japan were up 4.7% to (£4.9bn).

The group’s pre-tax profit was up from ¥437.9bn (£2.61bn) in 2023 to ¥557.2bn (£2.94bn), while operating profit surged 31.4% to ¥500.9bn (£2.64bn).

Uniqlo said its brand visibility is growing internationally and demand is strengthening among local shoppers and tourists.

With an eye to Uniqlo’s sister brand Gu, sales were also up 8.1% while operating profit jumped 28.9% as it exceeded expectations and its debut Gu flagship outside of Japan continues to “perform strongly” in the US.

Uniqlo hailed the success of its store estate, particularly in Europe, and credited its new stores for “extremely strong sales” during the year.

The retail giant also said it plans to reach a store portfolio total of 3,698 by the end of August 2025.

Fast Retailing said it expects revenue and profit to reach record highs for the 2025 full year.

Revenue is expected to hit ¥3.4trn (£17.5bn) in the year ahead and operating profit is anticipated to be up 5.8% to ¥530bn (£2.74bn).

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