Fast Retailing’s Uniqlo struggled in November in its domestic Japanese market with the retail giant seeing a 5.5% comparable sales fall and 5.8% drop in total. Both figures included its online operations.
Founded in 2010, the independent Swiss brand, which is experiencing rapid growth and expanding its operations, announced on Saturday that it has brought tennis star Roger Federer on board as part of its team.
Chinese retailer Alibaba Group Holding Ltd’s sales for its 24-hour Singles’ Day shopping blitz hit a record $38.4 billion, more than U.S. rival Amazon.com Inc’s haul last quarter from online store sales.
A South Korean boycott of Japanese goods is seen dragging down sales at Fast Retailing Co Ltd’s Uniqlo stores, denting otherwise strong financial results due to be announced on Thursday, analysts said.
After leaving France and China, the American fashion chain announced on Wednesday its exit from Japan, scheduled for late October. The departure will see 14 store closures and the folding of its local online store.