Japan's Fast Retailing's revenue up 20.4% to 1.46 trn yen in H1 FY23

However, the company's consolidated gross profit margin declined by 1.1 points YoY to 50.5 per cent. On the other hand, the selling, general, and administrative expense ratio improved by 0.3 points YoY to 35.7 per cent. The company recorded 10.2 billion yen under finance income net of costs.

In terms of business segments, Uniqlo Japan's H1 FY23 revenue totalled 495.1 billion yen, marking an 11.9 per cent YoY increase, while H1 operating profit totalled 67.3 billion yen, marking a 1.6 per cent YoY decrease. Despite this, the first half same-store sales increased by 10.0 per cent YoY. However, the gross profit margin declined by 2.2 points YoY, Fast Retailing said in a press release.

Meanwhile, Uniqlo international reported a significant increase in both revenue and profit in H1 FY23. Revenue rose to 755.2 billion yen, marking a 27.3 per cent YoY increase, while operating profit expanded to 122.6 billion yen, marking a 22.2 per cent YoY increase. The company saw large increases in both revenue and profit in Uniqlo operations in Southeast Asia, India and Australia, North America, and Europe (excluding Russia.

The GU business segment also reported large increases in both revenue and profit in the first half of fiscal 2023. Revenue rose to 145.5 billion yen, marking an 18.5 per cent YoY increase, while operating profit totalled 13.0 billion yen, marking a 39.2 per cent YoY increase, the release added.

However, the global brands segment reported a large rise in revenue but a decline in profit in the first half of fiscal 2023. Revenue rose to 70.2 billion yen, marking a 19.1 per cent YoY increase, while operating profit contracted to 0.1 billion yen, marking an 85.3 per cent YoY decrease.

Fibre2Fashion News Desk (DP)