January 12, Fast Retailing Co., the parent company of clothing brand UNIQLO and Japan’s largest retailer, reported financial figures for the first quarter of its 2020/23 fiscal year, which ended November 30, 2022.
Fast Retailing’s net profit for the first quarter contracted by 9.1 percent year-on-year to 85 billion yen. Operating profit for the period also declined, coming in 2 percent lower than the same period in the previous year, at 117 billion yen. But revenue for the first quarter rose by 14.2 percent to 716.3 billion yen.
Fast Retailing blamed the decrease on pande …
