Uniqlo parent’s global markets shade home

UNIQLO Australia_EastlandUniqlo’s parent company Fast Retailing has seen international market sales eclipse its domestic revenue for the first time.

While sales in Japan rose 8 per cent on the year to 257 billion yen ($2.31 billion) for the first quarter ended in November. Overseas sales grew more sharply, surging 31 per cent to 258.2 billion yen.

“Southeast Asia & Oceania contributed to the rise in Uniqlo international revenue thanks to strong sales of summer items designed for year-round hot weather and buoyant demand for winter items from overseas travelers,” the company said in a statement.

Fast Retailing kept its full-year projections through to August 2018, expecting group net profit to rise 1 per cent to 120 billion yen.

On Thursday, Uniqlo Australia announced the next phase of its Australian expansion, confirming the opening off its first store in Western Australia.

The Plaza Arcade location marks the retailers entrance into a fourth state, in addition to Victoria, New South Wales and Queensland – which it said underlined the brand’s commitment to growing Australia as a key market in the Asia-Pacific region.

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