XXX Group'S Quarterly Operating Profit Growth Reached A New High Of Two Years.

Japan

Fast Retailing, the Uniqlo's parent company, said it was offset by the cost reduction and the depreciation of the yen.

Business performance in the doldrums, the group's quarterly operating profit grew two years to a new high.

The continued downturn in the economy and rising wages all year round have led to a decline in consumer confidence in Japan, prompting retailers to provide higher quality and lower prices and reduce costs.

XXX also actively expanded overseas markets such as China, Southeast Asia and the United States to save the local market.

According to the world clothing and shoe net, Japan's consumer prices and household spending continued to decline in the 9 months ending November 2016, and Fast Retailing said it would not raise prices.

Japan is now trying to eliminate deflation.

CFO Takeshi (Takeshi Okazaki) said: "in

Consumers are more cautious and highly sensitive to price. "

In the first quarter of fiscal year 2017 (September 1, 2016 to November 30th), XXX group:

Sales grew by 1.6% to 528 billion 847 million yen.

Operating profit increased by 16.7% to 88 billion 590 million yen, which is similar to that of analysts' 88 billion 840 million yen, the biggest increase in 2014.

Net profit increased 45.1% to 69 billion 695 million yen.

Despite the warm weather in 9 and October and poor sales in autumn and winter, the local sales volume of UNIQLO grew by 3.4% to 2390 billion yen in November.

XXX said in a statement: "strict control (Japanese market) discounts increased gross profit by 0.3% over the same period last year, but sales, routine and administrative expenses increased by 0.2% compared to the same period last year.

Although continuous cost cutting has reduced the commercial cost of advertising, publicity, outsourcing and business travel, the distribution cost has increased because of the adjustment of logistics system. "

UNIQLO's international sales fell 0.2% to 196 billion 500 million yen.

"The main reason for the decline in sales is that the yen was stronger than at the same time last year, resulting in an average decline of 16% in yen based sales.

In terms of local currency, sales in all overseas markets of UNIQLO are on the rise.

As the yen weakened, XXX gained 15 billion 600 million yen in exchange earnings.

Compared with 9~11 months in 2015, the yen fell 13% against the US dollar in the quarter.

By the 2016 fiscal year ending August 2016 30, overseas stores accounted for 37% of the total sales.

Yanai Tadashi, chairman and President of the group's board of directors and CEO, said on many occasions that it wanted to build the group into the world's leading clothing retailer.

To this end, the group will continue to build UNIQLO stores around the world, and is committed to expanding the GU.

In 2001, UNIQLO opened its first overseas store. By the end of November last year, there were 1009 overseas stores in UNIQLO.

XXX hopes that it will end in the 2017 fiscal year ending August.

Sales grew by 3.6% to 1 trillion and 850 billion yen.

Operating profit grew 37.5% to 175 billion year-on-year, consistent with 18 yen expected by Thomson Reuters 18 yen.

Net profit doubled to 100 billion yen.

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