Uniqlo parent company Fast Retailing has posted a rise in both profits and sales during its first half as all geographies posted a “strong” performance.

Uniqlo Madrid store exterior

Source: Martin Mendez

Uniqlo’s LifeWear collection is proving popular in North America and Europe

Fast Retailing posted a 16.7% increase in operating profit to ¥257bn (£1.34bn) for the six months to February 29, 2024.

Revenue during the first half was up 9% year on year to ¥1.59trn (£8.3bn).

With an eye to individual geographies, Uniqlo said its performance across Europe, North America and Southeast Asia was “strong”, with revenue increasing the most in the US and Europe.

In terms of outlook, the Japanese group revised its full-year revenue guidance down by ¥20bn (£104m) “to reflect shortfall in first-half performance” and now expects to achieve revenue of ¥3.03trn (£1.6bn).

The group also upped its full-year profit guidance by ¥10bn (£52m), which it said was a result of “revised expected totals for interest income and expenses”.

Internationally, Fast Retailing said North America and Europe’s “significantly higher revenue and profit” came as a result of growing customer bases and “growing customer affinity” towards Uniqlo’s LifeWear collection.

The fashion giant’s performance in Southeast Asia, India and Australia was credited to strong sales of its winter and spring/summer ranges, which were on display “earlier than usual in local stores”.

Uniqlo’s parent company said it expected the international business to generate “large increases” in revenue and profit during the second half of 2024.