- Don-Alvin Adegeest |
As Uniqlo's parent company Fast Retailing Co cited the warm weather for its fall in profits, the company was forced to revise its profit outlook for the current fiscal year ending August 31.
Similar to UK high street retailer Next, Uniqlo saw a decline in the sales of its winter collection, due to the unseasonably warm temperatures that kept customers from buying 'heavy' clothing items.
Monthly sales data showed same-store sales fell 11.9 percent in December, following November's 8.9 percent drop.
The Japanese apparel giant said it now expects net profit of 110 billion yen for this business year, compared with the previous expectation for 115 billion yen.
For the latest quarter that ended November 30, Fast Retailing said its net profit sank 30.2 percent to 48.02 billion yen on revenue of 520.3 billion yen.