Uniqlo(fast retailing group), 1Q results

The Fast Retailing Group generated rises in both revenue and profit in the first quarter of fiscal 2018, or the three months from 1 September 2017 to 30 November 2017. Consolidated revenue totaled ¥617.0 billion(5,5 bn $)  (+16.7% year-on-year) and operating profit reached ¥113.9 billion(1,02 bn$) (+28.6% year-on-year)

1$=111 Japonesse yen

What is performance of business segments;

UNIQLO Japan:Sales strong, Operating Profit gain far exceeds plan

Benefited from colder than usual weather
Strong sales and wide inventory of UNIQLO flagship Fall Winter ranges such as HEATTECH, down coats, sweat wear and merino sweaters

Record monthly sales figure in November on bumper UNIQLO anniversary sale .

Customers visits and customer spend rose y/y all three months of the quarter

Customer visits: Strong campaign items, new JW ANDERSON joint collection and new maternity ranges attracted attention, and customers

Customer spend: Up on strong sales of higher-priced outerwear and bottoms

Online sales rise 25.6% y/y, contribution to total sales rises from 6.0% to 7.0%

November online sales growth capped at 20% y/y. Surge in online orders during UNIQLO anniversary sale pushed some dispatches into December. Online orders up over 40% y/y

UNIQLO International:Large revenue, profit gains exceed plan

Strong profit structure:
Improved gross profit margin,cost ratios.UNIQLO International revenue overtakes UNIQLO Japan in 1Q for the first time

China, S. Korea, SE Asia & Oceania report further strong gains in revenue and profit

Previously loss-making US operation posts a profit in 1Q

Mainland China:

Reports large profit gain as expected.Especially strong sales of Winter items on unusually cold Fall Winter season.Same-store sales rose to plan on stronger product mixes tailored to North,East and South China

Gross profit margin steady y/y as expected on tight discounting control.Improved cost ratios also contributed to the expected large profit gain.

Online sales: Continued double-digit growth in online sales

Hong Kong:

Stable Operating Profit(OP) in line with plan

Same-store sales down on lower tourist numbers. OP steady on cost cuts


OP far exceeds plan, large profit gain.Successful inventory adjustment, upturn in same-store sales, large improvement in gross profit margin, business expenses down


Large revenue and profit gain exceeds plan

Double-digit same-store sales gain on strong sales of warm clothing during cold Fall Winter season

Gross profit margin and cost ratios improved on shift away from discounting model

Southeast Asia & Oceania:

Large revenue, profit gains exceed plan

SE Asia sales continue strong to achieve double-digit same-store sales growth

Strong sales of Summer items for year-round hot weather, and buoyant overseas traveller demand for Winter items (HEATTECH, Ultra Light Down)

OP up sharply on improved gross profit margin and business cost ratios

Standout performances from Indonesia and Thailand

North America (USA & Canada):

USA OP above plan, reports a profit in 1Q .

USA same-store sales slightly above plan on strong sales of core Ultra Light Down, fleece, BLOCKTECH, jeans ranges and KAWSxPEANUTS joint collection

USA online sales strong after resolving product shortage issues

Strong sales generated sharp improvements in gross profit margin and cost ratios


In line with plan, OP up sharply .

Same-store sales up.

France, Russia especially high.

Continued success of first Spanish store, opened in September 2017

GU:Revenue and profit rise

GU Japan same-store sales fell short of plan to post a declineRevenue fell short of target, but OP exceeded plan

September sales up on favorable sales trendy items such as Chino bottoms, glen check and faux fur items

Sales from October fell short of target on shortages in trendy items, and lack of warm clothing ranges such as thick knitwear and jackets/coats

Significant y/y improvement in gross profit margin

Tighter discounting compared to more volatile pricing in previous year

Costs below plan in monetary terms on lower advertising, distribution spend

GU International revenue, profit up. 1 new Shanghai store. 15 stores (end Nov.)

Global Brands:Revenue, profit rises to plan

brand gross profit margin up on strong sales. Cost cuts. Large profit gain
Theory: Revenue and profit gains slightly above plan. Theory label generates stable growth as expected
Comptoir des Cotonniers: OP down, falls short of plan
Princesse tam.tam, J Brand: Continue to post a loss
Group :Full Year 2018 Estimates

Revenue: +10,1% to 18,46 billion USD

Operting profit:+13,4% to 1,8 billion USD

Estimated operating profit trend by business segment

Group company stores number

For Uniqlo core supplier list ,

H&M group  and Inditex(zara) are followed by Uniqlo. You can find their sales/profit information in that links


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