Fast retailing’s full fiscal revanues might have been liftup in 2016, but profit statistics goes down, according to Sourcing Journal.
Base on the financial report of J Brand, the parent comapny of Uniqlo and denim line, the revanue for the first eight monthes was up by six percent, but the operating profit was down by nearly 23 percent.
Fast retailing attributing the considerate profit decline on their foreign exchange loss and store closures. On the upside of the story, the company statmented a hundred percent year on year up in profit in the recent six month.
Things were similar for Uniqlo, whose revenue gown nearly 10percent, whereas profits were down to 37 billiion yen for almost 15 percent. If Fast Retailing didn’t get a sharp gain in China, the plunge would have been bigger.
Looking ahead to 2017, Fast Retailing are expecting increases of revenues to 3.6% and operating profit to175 billion yen ($1.67 million).
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