Store openings set to drive Uniqlo owner to record revenues

The retail group behind Uniqlo has forecast another record year amid a boost from strong international growth.

It came as Japan-based Fast Retailing reported it was facing some higher transport costs amid the conflict in the Middle East.

Nevertheless, the fashion business reported stronger profits for the past half-year.

Fast Retailing told shareholders on Thursday that operating profits lifted by 31.7% to 400.6 billion yen (£1.88 billion) for the six months to February 28.

Revenues for the period were up 14.8% to 2.05 trillion yen (£9.64 billion), compared with the same period a year earlier.

The company said it has been buoyed by the continued global expansion of the Uniqlo brand, with the new store openings in recent months.

As part of its growth plans, Uniqlo is opening its first store in Bristol later this month and is also set to open in Leeds in 2026.

The group added it was also boosted by strong sales of both winter products and “year-round” lines.

Uniqlo International revenues jumped by 22.4%, while business profits from the division were up 37.4%.

This included an increase in half-year revenues across the key Greater China region.

Operations in Europe and North America both delivered double-digit sales growth on the back of store openings and positive demand for winter clothing.

Fast Retailing said it is on track to deliver sales growth of 14.7% and operating profit growth of 24.1%, to around 700 billion yen (£3.24 billion) in the current financial year.