Newscasts - Uniqlo operator Fast Retailing posts record profit for fourth year

FAST RETAILING

09/10/2025 12:09

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Source: 'Reuters - Business videos'

Description: Japan's Fast Retailing, owner of global clothing brand Uniqlo, booked on Thursday its fourth consecutive year of record profit, citing strong domestic sales and robust results in the United States that compensated for higher tariffs. Francis Maguire reports.

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Video Transcript:

Fashion giant Uniqlo's owner announced its fourth consecutive year of record profit Thursday. Japan's Fast Retailing said strong domestic sales and healthy results in the US made up for higher tariffs. Revenue in Japan was boosted by sales to tourists while it also posted a record performance internationally. Fast Retailing said operating profit jumped about 13% to almost $3.7 billion in the 12 months through August. That beat its own forecast and analysts' projections. North America revenue was up just under a quarter, and business profit in the region rose more than a third for the fiscal year ended last August. But its greater China market continued to struggle as sales and profits fell. Consumer appetite was down due to a sluggish economy and weak consumer confidence. The firm has increasingly looked to North America and Europe for growth as China's economy slows, but its global strategy has been hit by tariffs set by US President Donald Trump. Fast Retailing warned in July the duties would start to have a significant impact on its operations in the market later in the year. However, price increases and cost-cutting helped the company raise US sales and profit for the year. It's also forecast operating profit for the 12 months through August next year would rise further