Fast Retailing, which operates UNIQLO and other companies, had sluggish sales in Europe and the United States due to the impact of the new coronavirus in the interim financial results for the six months to February, while curbing discount sales in Japan and China Sales and profits increased due to improved profitability.
Fast Retailing announced on the 8th that the group-wide interim results for the six months to February are 1,202.8 billion yen, a 0.5% decrease from the same period of the previous year.
The final profit increased by 5.4% to 105.8 billion yen, resulting in a decrease in sales and an increase in profit.
Due to the spread of the infection, temporary store closures continued in the United States and Europe, and sales were sluggish and sales declined. On the other hand, in Japan and China, discount sales were curtailed to reduce the number of products, and distribution became more efficient and profitable. The improvement boosted profits.
FAST RETAILING Chairman and President Tadashi Yanai said at a press conference, "We will focus more on opening stores in Asia and aim to be the overwhelming number one in Asia. The global economy has stagnated due to the spread of the new coronavirus infection. Political conflicts are getting worse, but I'm confident that the trend of globalization will not stop no matter what. "