<\/p>\n
Uniqlo owner Fast Retailing Co.\u2019s annual revenue climbed 17% to a record \u00a53.96 trillion ($25 billion), putting it solidly on a path to pull ahead of H&M as the world\u2019s No 2 apparel retailer and challenge Zara for the top spot.<\/p>\n
The sales milestone underscores Fast Retailing\u2019s ascent among global high-street fashion retailers, with sales set to surpass Hennes & Mauritz AB, which is projected by analysts to post sales of 222.7 billion kronor ($22.3 billion) for its fiscal year through November, while narrowing the gap with Zara owner Industria de Diseno Textil SA.<\/p>\n
The latest results show how far Uniqlo has come from its origins as a low-price Japanese casualwear chain to become an international brand built around functional all-season apparel, as it pushes deeper into North America and Europe. Even so, Fast Retailing founder and Chief Executive Officer Tadashi Yanai still needs to more than double annual sales to reach his long-term target and build the global apparel powerhouse he has long envisioned.<\/p>\n
\u201cOur milestone of achieving \u00a510 trillion yen in sales is now coming into view,\u201d Yanai said at a news conference in Tokyo. \u201cThe goal of becoming global No. 1 has been clear since our founding.\u201d<\/p>\n
For the coming fiscal year ending August 2027, Fast Retailing issued a forecast for operating profit to reach \u00a5830 billion, the clothing company said in a statement Thursday, in line with analysts\u2019 average estimate. The revenue outlook is \u00a54.45 trillion, also matching expectations.<\/p>\n
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Uniqlo\u2019s resistance to the fast-fashion industry\u2019s emphasis on rapidly changing trends is helping it to build its brand around functional, high-quality everyday clothing, a strategy that has made the business increasingly difficult to replicate, according to Takahiro Kazahaya, analyst at UBS AG Tokyo. \u201cThey\u2019re close to being one of a kind,\u201d he said.<\/p>\n
Operating profit rose 34% to \u00a5743 billion, topping analysts\u2019 average estimate.<\/p>\n
Asked about taking on Zara\u2019s owner, Yanai said: \u201cInditex has its own unique characteristics. We have our own characteristics, and we both play to our respective strengths.<\/p>\n
\u201cWe want to develop our brands so that when people think, \u2018I wonder if there is something like this out there,\u2019 Uniqlo is the very first thing that comes to mind,\u201d Yanai said. \u201cUp until now, we have done this primarily in Japan, but I believe the time has come to expand this globally.\u201d<\/p>\n
Uniqlo Japan same-store sales rose 5.1% for the year, helped by demand for functional ranges including Ultra Stretch Pants and UV Protection items, as well as trend-led products such as barrel pants.<\/p>\n
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Overseas operations continued to drive the bulk of growth, with Uniqlo\u2019s international business delivering record revenue of \u00a52.41 trillion, up 26%, and profit of \u00a5440 billion, up 44%, as combined sales in North America and Europe exceeded mainland China for the first time.<\/p>\n
Over the past year in the US, Fast Retailing has been opening and upgrading stores, including a second Fifth Avenue store in New York and a Chicago flagship, while also pushing brand visibility through efforts such as the\u00a0partnership\u00a0with Major League Baseball. Earlier this year, the field at Dodger Stadium was renamed Uniqlo Field. Yanai previously told Bloomberg that he is targeting \u00a53 trillion in annual US sales, with a goal to expand deeper into Middle America.<\/p>\n
Yanai also spoke on Thursday of his ambitions to expand everywhere. \u201cWe are embarking on a major challenge aimed at our next phase of growth,\u201d he said. \u201cOne of the key stages that will drive this next growth is Southeast Asia, Australia and India.\u201d<\/p>\n
\u00a9 2026 Bloomberg<\/p>\n
#Uniqlo #track #overtake #eyes #Zara #global<\/p>\n","protected":false},"excerpt":{"rendered":"
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