Financial News
Written by: Zhang Weilun
2020-10-15 14:47
Last update date: 2020-10-15 14:48
Fast Retailing (6288), which operates Uniqlo and GU brands, announced its full-year results as of the end of August this year. During the period, the profit attributable to owners of the parent company was 90.3 billion yen, down 44% year-on-year; The interest rate is 480 yen.
Fast Retailing pointed out that during the period, comprehensive income was 2.009 trillion yen, down 12.3% year-on-year, and consolidated operating profit was 149.3 billion yen, down 42% year-on-year.
The company explained that in the second half of the financial year, affected by the new crown pneumonia epidemic, stores in various markets were temporarily closed for several months. At the same time, the reduction of customers' outings also led to a decline in passenger flow.
The company also pointed out that 23 billion yen in stores was impaired due to the deterioration in performance; the pre-tax profit for the entire fiscal year fell 39.4% to 152.8 billion yen.
Operating profit of overseas Uniqlo business fell more than 60%
The company pointed out that during the period, Japan Uniqlo’s revenue was 806.8 billion yen, down 7.6% year-on-year; operating profit was 104.6 billion yen, an increase of 2.2% year-on-year, but same-store sales fell 6.8% year-on-year, but for the fourth quarter alone Same store sales rose by 20.2%.
For the whole year, online store sales increased by 29.3%, accounting for 13.3% of revenue.
In terms of overseas Uniqlo, accumulated revenue during the period was 843.9 billion yen, down 17.7% year-on-year, and operating profit was 50.2 billion yen, down 63.8% year-on-year; it also pointed out that in the Greater China region, it recorded revenue of 455.9 billion yen, down 9.3% year-on-year. , Operating profit decreased by 65.6 billion yen to 26.3%.
In the GU business, revenue increased by 3.1% year-on-year to 246 billion yen, and operating profit was 21.8 billion yen, down 22.5% year-on-year.
The company also pointed out that global brand business revenue fell 26.9% year-on-year to 109.6 billion yen, and an operating loss of 12.7 billion yen.
Expected fiscal year revenue to reach 2.2 trillion yen
Looking ahead, Fast Retailing expects that for the fiscal year ending August next year, its full-year revenue will be 2.2 trillion yen, up 9.5% year-on-year, and consolidated business profit will be 265 billion yen, up 55.9%; consolidated operating profit will be 2,450 Billion yen, an increase of 64%, and the profit attributable to owners of the parent company was 165 billion yen, an increase of 82.6% year-on-year.
The company expects to pay 480 yen for the fiscal year, including an interim dividend of 240 yen and a final dividend of 240 yen.
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