TOKYO — Fast Retailing said Thursday that it posted record profit and sales for its most recent financial year, and that revenue from Uniqlo international exceeded that of Uniqlo Japan for the first time. The results were bolstered by profit growth from both Uniqlo international and Uniqlo Japan.
For the fiscal year ended Aug. 31, Fast Retailing’s net profit grew by 29.8 percent to 154.81 billion yen, or $1.37 billion. Operating profit rose 34 percent to 236.21 billion yen, while net sales gained 14.4 percent to total 2.13 trillion yen. This marked the first year that Fast Retailing has posted revenue exceeding 2 trillion yen. Tadashi Yanai, the company’s chairman, president and chief executive officer, has said he aims to reach 3 trillion yen in net sales, while his medium-term goal is to become the world’s number-one apparel retailer.
Fashion is facing a blistering pace of technology, a complex economic backdrop, and shifting social mores, priorities, and lifestyles. WWD's annual CEO summit on Oct. 30 and 31, will be the meeting place for some of the sharpest minds in the business who will address how these forces affect a consumer. Speakers this year include Antoine Arnault, Virgil Abloh, Gabriela Hearst, and Olivier Rousteing. Tap the link in our bio to find out more. #wwdceosummit
@Priyankachopra had more than one reason to be smiling at @Tiffanyandco last night. The starlet proudly showed off her new engagement ring 💍 from Tiffany’s that her fiancé Nick Jonas gave her and celebrated the unveiling of the Tiffany Blue Book Collection, The Four Seasons of Tiffany. Tap the link in bio for more details. #wwdeye
Condé Nast has decided to shake things up after losing some of its top talent this year at @Teenvogue. It was unclear who was going to take the reigns, but they have found a new leader in @Lpeopleswagner. When asked about her new position, the fashion editor of The Cut said “I’m so excited to come full circle and be back at a time when there is nothing more powerful or important than a young person who is passionate about change.” #wwdmedia
When speaking about 'The Hate U Give’ @lamarjohnson said, “I think it has a lot of representation for both sides — black and white, or even just people of color in general,” to @ktauer. As one of falls most anticipated releases, the movie was adapted from the popular young adult novel centered on racism, police brutality and the Black Lives Matter movement. In his spare time, he’s filmed a few short freestyle dance videos, which he calls his first passion. Funny enough, his first acting credit was through dance. Read more at the link in our bio. #wwdeye
Photographed by @lexieblacklock