Fast Retailing has cut its annual profit outlook as extra Covid restrictions in Japan and elsewhere dented footfall. But its nine-month and Q3 performances were broadly strong and Theory improved in the latest quarter.
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.
Fast Retailing announced another same-store sales increase for its Japanese Uniqlo operation on Tuesday with comparable sales (including online) rising 2% year-on-year. Meanwhile, total sales rose 1.8%.
Uniqlo's Japanese owner on Thursday said operating profits were higher than pre-pandemic levels in its Q1, boosted by China's resurgence and strong demand for stay-at-home clothes like jogging pants and loungewear.