Uniqlo UNIQLO parent company, Asia's largest clothing retailer Fast Retailing Co. Ltd. 9983.T (9983.T) fast Marketing Group yesterday announced its net profit of 74 billion 550 million yen, or about 693 million US dollars, in the 2014 fiscal year ended August 31st, which is 28.7% lower than that in the 2013 fiscal year, and is less than the expected net profit expected to be 78 billion yen after the interim results and the nine month earnings announcement. The main reason is that its high-end Cowboy brand J Brand is weak and sustained in the US business. loss A 19 billion 300 million yen impairment loss and weaker demand for Uniqlo UNIQLO's domestic market.

Operating profit calculated by international financial reporting standards decreased by 2.8% to 130 billion 400 million yen, or about 1 billion 280 million US dollars per year, if the average Japanese accounting standards used in previous years increased by 11.8% to 148 billion 600 million yen, slightly exceeding the 147 billion 500 million yen expected by the market.

The annual sales increased by 21% to 1 trillion and 380 billion yen, or about 13 billion 610 million US dollars, of which the core brand Uniqlo, UNIQLO, Greater China sales increased 66.5% to 208 billion 100 million yen, or 1 billion 930 million US dollars, and Uniqlo UNIQLO sales increased 4.7% to 715 billion 600 million yen, or about 6 billion 650 million U. S. dollars, and global brand sales increased 21.8% to 253 billion yen, or around the dollar.

The group is expected to benefit from the rapid sales growth of Uniqlo UNIQLO in China, South Korea and Europe. The net profit of the current fiscal year 2015 will rise by 36.1% to 108 billion yen, or about $998 million, and business profits can rise 38% to 180 billion yen, or about 1 billion 670 million U.S. dollars, with sales expected to reach 1 trillion and 600 billion yen, or about 14 billion 780 million dollars, which means sales growth will slow to 15.7%.

Group plan is Uniqlo for the whole year. Uniqlo The brand adds 185 overseas stores, while the Japanese local stores will reduce 8, including GU, Theory, Princesse Tam Tam and other non core fashion brands will add 85 stores. As of the end of August 2014, the Uniqlo UNIQLO brand had 831 Japanese stores and 633 overseas stores, accounting for 374 in the Greater China region.

The Fast Retailing Co. Ltd. (9983.T) XXX group achieved annual sales of 5 trillion yen in 2020, surpassed Zara's Inditex SA ITX.MC (ITX.MC) and H&M Hennes&Mauritz Hennes&Mauritz (ITX.MC) as the world's largest apparel retailer for long-term development goals. Group Chairman and chief executive officer Tadashi Yanai Liu well revealed the medium-term goal in today's performance conference, hoping to achieve annual sales of 2 trillion and 500 billion yen in fiscal year 2017, and develop all the fashion brands except Uniqlo UNIQLO into 1 billion dollar brands.

To achieve these goals, the group will focus on developing the US market. Not only do we expect Uniqlo UNIQLO's US business to be profitable as soon as possible, and we plan to expand at an annual rate of 100, and make acquisitions when necessary.

The group also hopes to increase its operating profit margin from 9.4% in 2014 to 15% by adopting cost reduction measures and finding cheaper production channels. Nomura Securities analyst Masafumi Shoda Fast pointed out the business of Fast Retailing Co. Ltd. (9983.T) XXX group. profit Already bottomed out.

Fast Retailing Co. Ltd. (9983.T) reported 37255 yen on Thursday, up 1.5%. As of today, the stock fell 14% in 2014 and lost 5% of the Nikkei 225 index.