Fast Retailing Archives - Page 9 of 13 - Inside Retail Asia

Fast Retailing lowers profit outlook

Japanese company Fast Retailing has lowered its profit forecast for the year to August from 92 billion yen ($903.9 million) to 88 billion yen ($862 million). That’s after its net profit declined 1.4 per cent in the first half, due to falling foreign exchange rates. The sales tax increase and Japan’s ageing population, have dampened demand there, the company says. Same store sales just grew 2.2 per cent for the six months to February compared to the 3.6 per cent a year earlier. Fast Reta…

Uniqlo heads to Germany

Japanese apparel retailer Uniqlo will open its latest global flagship store – in Berlin, Germany – on April 11. The launch marks its entry into Germany, its fourth retail market in Europe. With a total sales floor of approximately 2700 sqm over three levels, it will be the largest Uniqlo store in Europe, offering a full range of men’s, women’s, and kids’ clothing. It will be located on the major intersection between Tauentzienstrasse and Nuernberger Strasse. Designed by Tokyo-based inte…

Uniqlo to open largest South China store yet

Japanese apparel retailer Uniqlo will open its largest store in South China yet – in Guangzhou – on March 28. The mega store will span some 6000 sqm inside Victoria Plaza, in Tianhe Rd. It will offer the retailer’s full line of products for men, women, kids, and babies. It will also house the largest Uniqlo T-shirt (UT) concept store in China, with a sales floor of 280 sqm – for the widest range of pop culture inspired UT products anywhere in China. “South China is experiencing some of …

Fast Retailing debuts on Hong Kong exchange

Shares in Japanese giant Fast Retailing are now being traded on the Hong Kong Stock Exchange. The listing is aimed at increasing awareness in China and beyond and part of a goal to become the world’s largest apparel retailer by 2020, surpassing Zara, H&M and Gap. “Having successfully completed the listing of its Hong Kong depository receipts (HDRs) in Hong Kong, Fast Retailing, together with Uniqlo and our other group companies, aim to take this special opportunity to reinforce and str…

Fast Retailing eyes J.Crew

Japanese giant Fast Retailing is in talks to buy US retailer J.Crew. Run by CEO Mickey Drexler, J.Crew is a multi-channel retailer of women’s, men’s and children’s apparel, shoes and accessories. The company operates 330 retail stores, including 257 J.Crew retail stores, eight crewcuts stores and 65 Madewell stores. The acquisition could value J.Crew, owned by TPG Capital and Leonard Green & Partners LP, at as much as $5 billion. The plan would speed up Fast Retailing’s goal to beco…

Uniqlo opens in France

Japanese apparel retailer Uniqlo will open a store in Marseille, France. The store will occupy 685 sqm at Les Terrasses du Port in the heart of Euromediterranea, the biggest business district in South Europe and new cultural area of Marseille and will offer a selected line of men’s and women’s collections. “Fulfilling our ambition to expand across France and Europe, we are thrilled to open our first store in Les Terrasses du Port in Marseille, bringing Uniqlo products to both locals and vi…

Uniqlo to open Tokyo mega store

Japanese apparel brand Uniqlo plans to open a large-scale store in Tokyo’s Ikebukuro in March. The store will span 2644 sqm and will offer the latest products for men, women, kids, and babies. Ikebukuro is a major commercial hub in the north of Tokyo, popular with students. With the launch of the Fukutoshin subway line in the area in 2008, Ikebukuro has seen ever increasing foot traffic, and this trend is expected to continue. Meanwhile, its parent company Fast Retailing said net income…

Uniqlo adds Indonesia store

Uniqlo has added two new stores in Jakarta following the success of its first store at Lotte Shopping Avenue. The Japanese brand’s two new stores opened at Mall Taman Anggrek and Sentra Kelapa Gading and span 2650 sqm and 2000 sqm respectively. The additional stores offer full collections for men, women, kids and babies. According to Yasuhiro Hayashi, CEO of Fast Retailing Indonesia, the Lotte Shopping Avenue store, which opened in June, is doing well. “Jakarta people are very fashio…

Fast Retailing posts sales rise

Japanese retailer Fast Retailing said November same-store sales increased 7.7 per cent. The Uniqlo parent says same-store sales growth was boosted by the colder weather from mid-month which lifted demand for its featured winter ranges. It says Uniqlo has enjoyed strong growth by offering high-quality casual wear at reasonable prices using its SPA (specialty store retailer of private label apparel) business model, which spans product design, manufacture, distribution and retail. Sales at…

Fast Retailing plans Hong Kong listing

Uniqlo parent Fast Retailing is on track for its secondary listing in Hong Kong. The Japanese apparel retailer has signed Morgan Stanley to lead its IPO in Hong Kong in the first quarter of next year. Fast Retailing is already listed in Tokyo and competes with global retailers like H&M of Sweden, Inditex of Spain and Gap of the US. Should the IPO become successful, Fast Retailing will be the third Japanese company to list in Hong Kong after conglomerate SBI Holdings and pachinko ope…

Uniqlo adds Thai stores

Japanese apparel brand Uniqlo has responded to increasing demand in Thailand with three new stores. The additional stores will be at Central Festival Chiang Mai, Central Rama II and Tesco Lotus Phuket. The new stores feature sales floors in excess of 1000 sqm each, and carry the full range of Uniqlo products. “Uniqlo sees increasing demand from both locals and visitors in Thailand, and, working with our partners, is expanding rapidly. This latest launch brings us a total of 14 stores ac…

Fast Retailing marks record sales

Uniqlo parent Fast Retailing said sales topped 1 trillion yen ($10.2 billion) for the first time and operating income hit a new record high in the year to August. The Japanese apparel retailer reported a net income rise of 26 per cent to 90.4 billion yen ($918 million) during the 12 months. The company said net sales of Uniqlo Japan expanded 10.2 per cent to 683.3 billion yen ($6.9 billion), supported by a 7.3 per cent increase in same-store sales. However, a fall in the gross profit margi…