GU Japanese fashion group Fast Retailing has announced […]

Fast Retailing has raised its full-year forecast for fiscal year 2026.

Fast Retailing expressed its ambition to become the “world’s No. 1 brand,” trusted by customers globally and indispensable in everyday life.

The UNIQLO market in the Chinese Mainland experienced significant declines in both revenue and operating profit due to several factors: a high comparison base from the previous year, low consumer willingness, and unfavorable weather conditions that affected product demand.

The group expects that in the second half of the 2024 fiscal year and for the full year, the business in the Greater China market is projected to achieve revenue growth and a slight increase in profit.

In the fiscal year 2023, business in mainland China regained vitality; however, Chinese consumers have become more discerning when it comes to products and prices.

The group raised its full-year profit forecast from 350 billion yen in Q1 to 360 billion yen, higher than the average expectation of 347 billion yen by 14 analysts.

Fast Retailing Co. blamed the decrease on pandemic-related restrictions in China and the weaker yen, as well as the warmer weather in November.