Fast Retailing profit soars as Uniqlo Asia booms

Uniqlo parent Fast Retailing has reported a record full-year profit, due to strong growth in Asia and lessening losses in the US.

And the company says current year performance to date suggests even better results lie ahead.

Fast Retailing profit rose 34 per cent to US$2.11 billion in the year to August.

In July the company reported a solid third-quarter, again based on strong sales across Asian markets. Across the first nine months, sales outside Japan rose 28 per cent year on year and operating profit outside Japan soared 65 per cent, driven largely by Uniqlo Asia.

Online sales were also strong as the Uniqlo brand expanded its reach to new markets.

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