UNIQLO, A Famous Japanese Clothing Brand: Its Operating Profit Plummeted By 74%

According to the report of China fund daily on July 10, the news of huge profit loss did not seem to have a significant impact on the stock price of fast sale. As of July 9, it was up 0.37% to 62360 yen. Since hitting the bottom on March 19, 2020, fast sell's share price has risen 53%.

UNIQLO founder Liu Jing is optimistic about China's economy.

Fast retailing group reported a net loss of 9.82 billion yen and revenue of 336.41 billion yen in the third quarter to the end of May. UNIQLO Japan's third quarter operating profit fell 74%, revenue fell 36%. UNIQLO's revenues and profits in all major overseas markets declined significantly.

From late March to early May, 311 of the 813 UNIQLO stores in Japan temporarily closed down, with a 34% year-on-year decrease in net sales of the same store in a single quarter. Since the middle of May, all stores have resumed business one after another, and the revenue in June has risen.

Fast sale group is a Japanese holding company, mainly engaged in clothing business. UNIQLO is a fast selling group founded by the richest man in Japan, Liu Jingzheng.