GU news and archive

Fast Retailing posts increase in profit, raises outlook

In the nine months to May 31, 2023, consolidated revenue at Fast Retailing Group were 2.1435 trillion yen, up 21.4 percent year-on-year and operating profit rose to 330.5 billion yen, up 21.9 percent. Profit attributable to owners of the parent increased to 238.5 billion yen, up 0.3 percent. According to the revised estimates for FY2023, Fast...

Retail

Japan’s GU to open first US store

Japanese retailer GU has announced it will be opening its first store in the US, set to launch autumn 2022. The pop-up store will be located in Soho, New York, and will mark the brand’s first Western launch outside of Asia, coming as part of its further business expansion. Featured in the store will be a lineup of “on-trend” clothing and...

Management

Fast Retailing: Q1 revenue declines but operating profit up 23.3 percent

Consolidated revenue at Fast Retailing, totalled 619.7 billion yen, down 0.6 percent year-on-year, while operating profit totalled 113 billion yen, up 23.3 percent year-on-year driven by large increases in profit from Uniqlo operations in Japan and Greater China including Mainland China, Hong Kong and Taiwan, as well as rising profit and a...

Management

Fast Retailing profit drops on weak sales, expects recovery in FY21

The Fast Retailing Group’s revenue and profit declined in fiscal 2020. The company said in a statement that for the twelve months to August 31, 2020, consolidated revenue totalled 2.0088 trillion yen, down 12.3 percent and operating profit totalled 149.3 billion yen, down 42 percent resulting from large falls in both revenue and profit in the...

ManagementFeatured

Fast Retailing lowers full year outlook, sees around 50 percent profit decline

The Fast Retailing Group’s consolidated revenue for the first nine months, totalled 1.5449 trillion yen, down 15.2 percent and operating profit totalled 132.3 billion yen, down 46.6 percent caused primarily by the impact of Covid-19, which the company said, spurred its decision to either temporarily close or introduce shorter opening hours for...

ManagementFeatured

Fast Retailing lowers FY20 estimates as Uniqlo sales hit in Hong Kong, South Korea

Fast Retailing Fast Retailing Group said that consolidated revenue of 623.4 billion yen (5.70 billion dollars) for the first quarter were down 3.3 percent, while operating profit of 91.6 billion yen (0.84 billion dollars), dropped 12.4 percent. The company attributed decline in revenue and profit to that South Korea and Hong Kong reporting...

People

Uniqlo’s Tadashi Yanai to become Japan’s richest man in 2016

Tadashi Yanai, owner of Japanese fashion conglomerate Fast Retailing (Uniqlo, Comptoir des Cotonniers, GU) is set to become the richest man in Japan this year, with a total net worth estimated at 16.3 billions US dollars (12.3 billion euros). According to Forbes list of the 50 richest people of Japan, Yanai has managed to increase his fortune in...