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.
After a bump in August sales in Japan, Fast Retailing investors will look to the company's financial update on Thursday for signs that the recovery will last beyond a flurry of sales in masks and stay-at-home clothes.
Uniqlo is diving deeper into recycling. It has unveiled the first products to be launched from its Re-Uniqlo initiative that collects its clothing no longer needed by customers “and gives them new life and new value”.
Uniqlo India donated 2 lakh masks and 2,000 units of its 'ALRism innerwear' to hospitals and police departments in Delhi National Capital Region (NCR) to support frontline workers in the fight against COVID-19.
Japanese clothing chain Uniqlo is likely to report strong same-store sales for June, taking the edge off a profit plunge for owner Fast Retailing due to store closures and weak demand amid the coronavirus pandemic.
Japanese casual clothing chain Uniqlo, owned by Fast Retailing, said it plans to sell face masks made of fabric used for its Airism underwear line in response to strong demand for protective gear for the coronavirus.