TOKYO — Fast Retailing said Thursday that its nine-month net profit soared 69.1 percent compared with the same prior-year period. In addition to higher sales, the increase was largely the result of a foreign exchange gain of 13.3 billion yen.Uniqlo's parent company said its net profit for the nine months ended May 31 totaled 120.1 billion yen. Operating profit grew 23.9 percent to 180.6 billion yen.Fast Retailing said its nine-month sales increased by 3 percent on the year to 1.48 trillion yen.Dollar figures are calculated at average exchange for the period to which they refer.Uniqlo continues to see strong growth internationally. Outside of Japan, the company’s operating profit jumped 61.3 percent to 68.1 billion yen. Uniqlo’s international sales grew 5.4 percent year-over-year to 561.5 billion yen.“In the third quarter, from March to May, Uniqlo Southeast Asia and Oceania and Uniqlo South Korea performed extremely well to report a doubling in operating profit,” the company said in a statement. “Profits continued to expand at Uniqlo Greater China thanks to successful sales campaigns timed to draw in customers over May Day and other public holidays, and strong sales of UT T-shirts, polo shirts and other core summer ranges.”Uniqlo’s sales also increased in Japan, where nine-month revenue rose 1.2 percent on the year to 653.4 billion yen.Fast Retailing also said that Theory has performed strongly in recent months.“Our Theory fashion brand reported significant rises in both revenue and profit in the third quarter,” the company said. “Theory's PLST label reported an especially strong rise in customer visits following the brand's decision to expand its product range into casual office clothing, and expand its client base through extensive digital marketing.”Fast Retailing left unchanged its guidance for the fiscal year ending Aug. 31. It is expecting net profit will more than double to 100 billion yen. While this figure is lower than its nine-month profit, the company said it “decided not to revise [its] forecast after considering various factors such as potential loss-making subsidiaries and store-related impairment losses, and unpredictable foreign exchange rate trends.”The retailer forecasts operating profit will gain 37.5 percent over the previous fiscal year, totaling 175 billion yen.It is predicting yearly net sales growth of 3.6 percent for a total of 1.85 trillion yen.
@chanel and @pharrell dropped what’s being dubbed as the world’s most exclusive sneakers yesterday. The Adidas Originals NMD Hu, which Williams designed in collaboration with Chanel and @adidasoriginals, has a waiting list of over 120K people who pre-registered online at chanelatcolette.fr –– and only 500 pairs are on sale. The singer predicted the resale value of the shoes could reach $40K. Read the full interview on WWD.com. Link in bio. #wwdfashion (📷: Dominique Maître)
@imanshumpert is diving deeper into his creative endeavors and relaunching his clothing line, Post 90s, and is helping to raise money for the hurricane victims in St. Maarten with a jersey he’s designed with his brother. The Cleveland Cavaliers player talked to WWD about kneeling during the national anthem, working with fashion brands and how he wants to be more than an @nba player. Read the interview on WWD.com #wwdfashion (📷: George Chinese)
Not only does #TheProfit return to CNBC tonight, but @marcuslemonis has launched @shopmarcus, a new shopping and lifestyle retail experience in Aspen and Chicago, with more locations to come. The retail stores offer in-store stylists and a variety of contemporary womenswear selections.
“It’s life, I’m going to face it,” @mingxi11 sighed. “I fell, but you know, I think the most important thing is that I get back up. I had the love, the help from my sister — the girl next to me Gizele [Oliveira] — she’s so nice. When I went backstage everybody was trying to comfort me like ‘Oh Ming, it’s OK.’ I’m really, really touched. I think it’s them who gave me the courage to go back on stage for the finale,” Xi told WWD of her fall at the @victoriassecret fashion show. (📷: David Fisher) #wwdfashion #vsfashionshow #victoriassecret
@louisvuitton tapped @therealpeterlindbergh for its latest city-centric photo book, which is part of a series called Fashion Eye. The primarily black and white book captures the spirit of Berlin in 57 images shot between 1989 and 2019. “Berlin is an inspiration for me, more than a city. I mean @millajovovich is simply Berlin!” said Lindbergh. #wwdfashion
“You know, I think audiences expect a certain performance so I have to deliver to them what they’re expecting to a certain degree. But I’m also a different actor and a different person, I have my own spin on the character,” says @noahegalvin of his takeover of the leading role in “Dear Evan Hansen” following the departure of @bensplatt, who originated the role. Read WWD’s interview with the 23-year-old actor on WWD.com #wwdeye (📷: @jilliansollazzo)
For pre-fall 2018, @etro created richly-colored wonderland, using tapestries, textiles and wallpapers from the Eastern world at large. The line featured floral and graphic prints and jacquard motifs, like this two-piece look featured here. #wwdfashion (📷: Giovanna Pavesi)
@kith is moving into children’s. The men’s and women’s streetwear brand has launched Kidset, a Kith kids line located in New York at 64 Bleecker Street. The line includes mini versions of staple Kith pieces like the Astor bomber jacket and the Kith box logo sweatshirts, along with a wall that can display up to 120 pairs of shoes from @adidas, @newbalance, @timberland and more. #wwdfashion
“I just wanted to create this fully rounded character, but I do think what excited me most was just the opportunity to give a group of people representation that I feel needs it. I like to do characters in projects that stand for something and Karolina definitely does, so that was really exciting to me,” @ginnygardner says of her new role in @hulu’s “The Runaways.” Gardner plays Karolina Dean, a queer superhero, which is a rarity for @marvel. Read more about Gardner’s character on WWD.com #wwdeye (📷: @dandoperalski)