Japanese giant Fast Retailing has reported its consolidated results for the latest half year and said that it exceeded expectations as revenues were higher than predicted and its profits rose sharply.
Fast Retailing released H1 results on Thursday, plus its Japanese Uniqlo performance for March. Both reports showed the business is doing well in general, even if the H1 figures showed some smaller brands struggling.
Uniqlo owner Fast Retailing may have taken a 42% pandemic-linked hit in its latest year but it’s forecasting a 60%+ recovery in its operating profit in the current financial year that ends next August.
The CEO of Japanese fashion and retail group Fast Retailing (owner among others of Uniqlo and Comptoir des Cotonniers), said that the group’s top job is better suited to a woman, according to Bloomberg.
Fast Retailing has become the latest retail giant to announce a major sustainability initiative with “plans to eliminate the use of unnecessary plastic throughout its supply chain and handed to customers” by next year.