TOKYO – Fast Retailing saw double-digit profit and sales growth for the fiscal year ended Aug. 31, bucking an otherwise negative trend for retailers in a sluggish Japanese economy.
Net profit for the year rose 37.0 percent to 43.53 billion yen, or $403.0 million, while the operating profit increased 34.7 percent to 87.49 billion yen, or $810.1 million. Sales advanced 11.7 percent to 586.45 billion yen, or $5.43 billion.
Dollar figures were converted at average exchange rates for the period to which they refer.
Fast Retailing attributed the gains to the successful international expansion of its Uniqlo brand as well as the development of products like unique printed T-shirts and quick-dry garments.
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