UNIQLO'S Profits In China Fell By 14%

Chain giant

The parent company Japan fast Marketing Co. Ltd. has begun to slow down in China.

XXX group released its first quarter financial results for fiscal year 2016 yesterday. Last year, 9-11 months, the group's total revenue was 520 billion 300 million yen, an increase of 8.5% over the same period last year. The total profit of the parent company should be 48 billion yen, down 30.2% from the same period last year.

Among them, Japan's domestic performance and overseas market performance based on Greater China were not up to standard, and operating profit decreased by 12.4% and 14.2% respectively.

Global temperature change has become the biggest obstacle to the growth of fast track sales.

The fast warming group said that the warmer winter climate last year had adverse effects on the same store sales in the Greater China region (including Mainland China, Hongkong and Taiwan), Korea and the United States, resulting in a weaker performance than those expected in the first quarter.

Greater China is still the main venue for XXX group.

In November last year, the number of overseas UNIQLO stores exceeded Japan's domestic market for the first time, meeting the expectations of development.

According to the financial report, the total income of UNIQLO overseas in the first quarter was 196 billion 900 million yen, an increase of 17.2% over the same period.

There are 66 new outlets in the overseas markets of Greater China and Southeast Asia, a total of 864, and 806 local stores in Japan, representing a decrease of 18 over the same period last year.

Ryui Seiso, chairman, President and CEO of fast marketing group, said that the Greater China region expanded at the rate of 100 new stores a year to achieve the goal of 1000 stores and 3000 stores in the short term.