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MarketScreener Homepage  >  Equities  >  Tokyo Stock Exchange  >  Fast Retailing Co., Ltd.    9983   JP3802300008

FAST RETAILING CO., LTD.

(9983)
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Uniqlo owner sees strong rebound as basic fashion resilient in pandemic

10/15/2020 | 05:44am EST
Woman walks out of a Uniqlo store in Beijing

TOKYO (Reuters) - Japan's Fast Retailing, owner of casual fashion brand Uniqlo, on Thursday forecast a stronger-than-expected surge in operating profit this business year as it rebounds from the pandemic.

Fast Retailing, along with other global apparel makers, has been hit hard by COVID-19, which wreaked havoc on supply chains, kept shoppers home and dented spending.

But the Japanese retailer has fared better than most rivals thanks to ample cash and an emphasis on practical, casual wear. Its shares have rallied in recent months, closing on Thursday at a record 70,420 yen.

For the year ended in August, it reported a 149 billion yen ($1.42 billion) operating profit, down 42% from a year earlier but beating the market's consensus forecast of 137 billion yen, according to Refinitiv data.

Its forecast for a 64% surge to 245 billion yen this business year also beat the market's view for 235 billion yen.

Fast Retailing said the pandemic will likely weigh on revenue in the six months to February but that a strong recovery should kick in from the second half as long as the global pandemic is brought under control.

It forecast higher revenue and profit in Japan, as well as a significant revenue increase in Greater China, where it already has 782 stores - nearly as many as it does in Japan.

The rebound would come after a hard year for global retailers, as lockdowns and general wariness over spending forced storied U.S. brands such as J. Crew as well as Japanese apparel makers like Renown into bankruptcy.

Chief Executive Tadashi Yanai said Fast Retailing's relative success at weathering the crisis came from its focus on daily essentials.

He reiterated his ambition to overtake Zara-owner Inditex as industry leader. Fast Retailing has been closing in on No. 2 H&M, despite a struggle to break into the U.S. market, thanks to its early focus on Asia's fast-growing middle class. "Even before coronavirus, the world's growth engine has been shifting to Asia's population of 4 billion," he told a news conference.

($1 = 105.2500 yen)

(Reporting by Ritsuko Ando; editing by Richard Pullin and William Mallard)

By Ritsuko Ando


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
FAST RETAILING CO., LTD. -0.42% 87190 End-of-day quote.34.14%
HENNES & MAURITZ AB 0.08% 184.2 Delayed Quote.-3.30%
INDUSTRIA DE DISEÑO TEXTIL, S.A. -0.25% 27.79 Delayed Quote.-11.22%
All news about FAST RETAILING CO., LTD.
12/02FAST RETAILING : UNIQLO Monthly Sales Information of Japan (November 2020)
PU
12/02FAST RETAILING : UNIQLO Store Openings / Closings Information of Japan (November..
PU
12/01FAST RETAILING : UNIQLO PARK Yokohama Bayside Store Receives Japan's First Desig..
PU
11/20In pandemic Christmas, U.S. rivals aim to challenge Amazon under the tree
RE
11/20In pandemic Christmas, U.S. rivals aim to challenge Amazon under the tree
RE
11/18FAST RETAILING : Announcements and Notices -
PU
11/12FAST RETAILING : Overseas Regulatory Announcement - The Issuance of Stock-Based ..
PU
11/12Uniqlo revives Jil Sander tie-up in post-pandemic, upmarket push
RE
11/12Alibaba, JD.com say U.S. was top seller to China during Singles' Day event
RE
11/11FAST RETAILING : J Brand to Strategically Change Direction
PU
More news
Financials
Sales 2021 2 304 B 22 058 M 22 058 M
Net income 2021 179 B 1 710 M 1 710 M
Net cash 2021 592 B 5 667 M 5 667 M
P/E ratio 2021 49,6x
Yield 2021 0,58%
Capitalization 8 903 B 85 155 M 85 217 M
EV / Sales 2021 3,61x
EV / Sales 2022 3,24x
Nbr of Employees 57 727
Free-Float 51,3%
Chart FAST RETAILING CO., LTD.
Duration : Period :
Fast Retailing Co., Ltd. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends FAST RETAILING CO., LTD.
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 16
Average target price 75 306,25 JPY
Last Close Price 87 190,00 JPY
Spread / Highest target 8,96%
Spread / Average Target -13,6%
Spread / Lowest Target -39,2%
EPS Revisions
Managers
NameTitle
Tadashi Yanai Chairman, President & Group CEO
Takeshi Okazaki CFO, Director & Group Senior Executive Officer
Masaaki Shintaku Independent Outside Director
Toru Hambayashi Independent Outside Director
Nobumichi Hattori Independent Outside Director
Sector and Competitors
1st jan.Capitalization (M$)
FAST RETAILING CO., LTD.34.14%85 155
INDUSTRIA DE DISEÑO TEXTIL, S.A.-11.22%104 494
KERING SA3.40%91 606
ROSS STORES, INC.-4.19%39 709
HENNES & MAURITZ AB-2.48%36 191
ZALANDO SE79.77%24 979