Fast Retailing has cut its annual profit outlook as extra Covid restrictions in Japan and elsewhere dented footfall. But its nine-month and Q3 performances were broadly strong and Theory improved in the latest quarter.
It hasn’t taken long to hear who’s moving into the location that Superdry is vacating on Regent Street. Fast Retailing has just announced that it will be taking up residence with its Uniqlo and Theory brands.
Fast Retailing released H1 results on Thursday, plus its Japanese Uniqlo performance for March. Both reports showed the business is doing well in general, even if the H1 figures showed some smaller brands struggling.
Uniqlo owner Fast Retailing may have taken a 42% pandemic-linked hit in its latest year but it’s forecasting a 60%+ recovery in its operating profit in the current financial year that ends next August.