Fast Retailing, the parent company of Uniqlo and Theory, reports significant growth in both profit and revenue for the year ended 31 August 2024.
- Operating profit has surged 31%, reaching ¥500.9bn (£2.57bn).
- Revenue climbed by 12.2% to a total of ¥3.1 trillion (£15 trillion).
- Growth was driven by diverse earnings and global expansion strategies.
- Strong performance noted in Greater China, Taiwan, South Korea, Southeast Asia, India, and Australia.
Fast Retailing has experienced a notable increase in its financial performance, with operating profits soaring by an impressive 31%, amounting to ¥500.9bn (£2.57bn) for the fiscal year ending 31 August 2024. This substantial growth reflects the company’s ability to enhance its revenue streams and solidify earnings pillars globally.
Revenue for Fast Retailing reached a remarkable ¥3.1 trillion (£15 trillion), marking an increase of 12.2% from the previous year. The company attributes this fiscal achievement to the strategic diversification of its earnings and the establishment of frameworks designed to unlock higher potential profits on a global scale.
The company’s robust operational base, fueled by investments in new store openings and automated warehousing, has contributed significantly to its financial success. These efforts underscore Fast Retailing’s commitment to expanding its global presence and optimizing its operational efficiency.
In terms of regional performance, Fast Retailing’s Uniqlo brand reported buoyant sales in the Greater China region, alongside notable growth in Taiwan, South Korea, Southeast Asia, India, and Australia. These markets witnessed “significantly higher full-year revenue and profits,” bolstering the company’s overall financial results.
Looking ahead, Fast Retailing projects a consolidated revenue increase of 9.5% year-on-year to ¥3.4 trillion (£17 trillion) and a 5.8% rise in operating profit, reaching ¥530bn (£2.71bn) for the fiscal year 2025. This forecast highlights the company’s expectation of continued growth and its dedication to sustaining its upward trajectory.
Fast Retailing’s strategic expansion and investment have poised it for continued success globally.
