Japan's Uniqlo operator logs record annual profit
TOKYO (AFP) - The operator of Japanese cheap-chic clothing chain Uniqlo on Thursday said its annual net profit jumped 26.1 per cent to a record as it keeps up a rapid expansion drive.
Fast Retailing said it earned 90.38 billion yen (S$1.2 billion) in its financial year to August, as sales surged 23.1 per cent to 1.14 trillion yen, topping the trillion-yen mark for the first time.
Last month, the company said it was branching out to Australia, with a store in Melbourne next year, as it opened a huge branch in Shanghai.
The new store openings are part of an international expansion of the company, which has more than 1,200 outlets worldwide, and follows the establishment of branches all over Asia, as well as in London and New York.