August 17, 2022

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Quick Retailing shares are up sharply after Uniqlo gross sales in Japan rose sharply in Might

By Kosaku Narioka

Shares of Quick Retailing Co. rose sharply on Friday morning after the attire firm stated Uniqlo same-store and e-commerce gross sales in Japan rose 17.5% in Might from a 12 months earlier.

Shares lately traded 5.9% greater at 66,890 yen after rising 6.5% earlier.

Quick Retailing stated after the market closed on Thursday that gross sales of Uniqlo in Japan rose sharply, due to strong enterprise through the spring break and anniversary campaigns, in addition to robust summer season clothes gross sales. The variety of prospects elevated by 9.6%, whereas the spend per buyer elevated by 7.3%.

Nomura analysts Hisahiro Yamaoka and Daiki Kobayashi stated in a analysis word that spending per buyer doubtless elevated as a consequence of higher-priced items being offered and reductions being lower as customers sought outwear for outings. Promoting traits at Uniqlo look like steadily enhancing, the analysts stated.

In April, Quick Retailing forecast a 3.1% enhance in gross sales to 2.2 trillion yen ($16.94 billion) and a 12% enhance in internet earnings to 190.00 billion yen for the fiscal 12 months ended August.

Shares in retail rival Ryohin Keikaku rose 4.5% after Might gross sales of MUJI in Japan rose 12% 12 months over 12 months. The Nikkei Inventory Common rose 1.1%.

Write to Kosaku Narioka at [email protected]

https://www.marketwatch.com/story/fast-retailing-shares-rise-sharply-after-japan-uniqlo-sales-surged-in-may-271654221376?rss=1&siteid=rss Quick Retailing shares are up sharply after Uniqlo gross sales in Japan rose sharply in Might

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