UNIQLO International poses ‘significant’ profit increase in H1 2022

It saw a nearly 50% increase in profit to ¥100.3b.

UNIQLO International reported a “significant” increase in profit after it grew 49.7% year-on-year (YoY) to ¥100.3b in the first half of the year.

UNIQLO International’s revenue over the same period rose 13.7% YoY to ¥593.2b, Fast Retailing Co. Ltd. reported.

This was linked to large increases in both revenue and profit of its operations in South Asia, Southeast Asia and Oceania, North America, and Europe regions.

Of the total operating profit, the Greater China region accounted for 55%, whilst North America and Europe constituted approximately 20%.

In particular, UNIQLO recorded increases in its Hong Kong, Taiwan, and South Korea markets, whilst its profit contracted significantly in Mainland China due to a weaker consumer appetite caused by pandemic-related restrictions.

UNIQLO operations in Malaysia and Indonesia have also generated strong results as health restrictions were eased, boosted by a stronger digital and in-store marketing.

“We are pursuing more determined new store openings on a global scale,” the company said.

“We intend to showcase the UNIQLO brand to the world from prime locations in major global cities.”

Last year, the company opened UNIQLO RIBOLI in Paris and UNIQLO BEIJING SANLITUN in China. This year, it is set to open UNIQLO Regent Street Store in London.