The Second Quarter Profits Of UNIQLO Parent Company Declined By 55.1%

It is understood that

The parent company's fast selling group deteriorated in the second quarter of this year, and the second annual profit forecast was lowered.

In the first three quarters of this fiscal year, corporate profits fell by 30.2%.

On Thursday, profits fell by 55.1% in the first six months to February 29th, 47 billion 40 million yen ($393 million 400 thousand).

The company's profitability in the second quarter deteriorated, which was mainly affected by the global warming and the negative impact of consumer demand for winter clothing. In the first three quarters of this fiscal year, corporate profits fell by 30.2%.

The company pointed out that the decline in earnings was attributable to the appreciation of the yen. In the first half of the year, the net loss of exchange rate factors was 42 billion 400 million yen (US $354 million 590 thousand).

Earlier this year, it benefited a lot from the weakness of the yen.

In the first half of the year, business profits fell by 33.8% to 99 billion 340 million yen (830 million 780 thousand US dollars).

Net turnover increased by 6.5% to 1 trillion and 10 billion yen ($8 billion 450 million) during the period.

The company lowered its annual profit guidance for the second time, which is another adjustment after the first quarter of January.

At present,

It is estimated that net profit will fall by 45.5% to 60 billion yen (544 million 430 thousand US dollars) as of August 31st.

In January, the company said it expects net profit for the year to be flat at 110 billion yen ($998 million 120 thousand).

The company said its operating profit is expected to fall by 27% to 120 billion yen (1 billion 90 million US dollars).

It was lower than the previous yen of 180 billion yen (US $1 billion 630 million).

At the same time, the company expects to remain unchanged throughout the year.

The company expects its turnover to grow by 7% to 1 trillion and 800 billion yen (16 billion 330 million US dollars).

Ryui Seiso, chairman and President of CEO, said that his goal is to make the company the largest clothing retailer in the world in 2020.