Fast Retailing Co., Ltd. reported record-breaking financial results for fiscal year 2024, with revenue surpassing ¥3 trillion (US$20.1 billion) and operating profit exceeding ¥500 billion (US$3.3 billion) for the first time.
The Japanese retail giant saw its revenue climb 12.2% year-on-year to ¥3.1038 trillion, while operating profit surged 31.4% to ¥500.9 billion. Profit attributable to owners of the parent rose 25.6% to ¥371.9 billion.
UNIQLO International was the primary growth driver, with revenue jumping 19.1% to ¥1.7118 trillion and operating profit soaring 24.9% to ¥283.4 billion. The segment achieved operating profit margins of 15% or higher across all regions, with North America and Europe showing significant improvements.
UNIQLO Japan also performed strongly, with revenue increasing 4.7% to ¥932.2 billion and operating profit rising 32.2% to ¥155.8 billion. The segment benefited from robust summer sales and increased demand from overseas visitors.
GU, the company’s casual fashion brand, saw revenue grow 8.1% to ¥319.1 billion, with operating profit up 28.9% to ¥33.7 billion.
Fast Retailing expects continued growth in fiscal 2025, forecasting revenue of ¥3.4 trillion and operating profit of ¥530 billion. The company plans to focus on expanding its global operations, particularly through UNIQLO International.
