For 2011 the group put on 100 billion yen

Clothing global giants are the penalty. After the Swedish H & M, which has revised downward the number of its openings of stores for this year, it is the turn of Fast Retailing to curb its ambitions.

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The Japanese group owner of Uniqlo, small price basic clothing brand, said Friday that he expected a decline of 14 of its operating profit in 2011, on its exercise which will be closed in August. This downward revision comes, on the fiscal year that has just ended, the Japanese group saw its operating profit jump 21.9, 132.9 billion yen (EUR 1.15 billion). He put on an increase of 5 of its turnover this year, through its development abroad.

In fact, it is the Japan which is the main black spot for the group. UNIQLO, its lighthouse sign, saw its sales fall by 25 in number of comparable stores in September. The never-seen for seven years. The aging country out to the economic crisis, but so far the company had always fired the game job, despite the recession. More than economic hardship, Uniqlo has developed in front of the problems of management of stocks and climatic reasons to explain this decline. Summer temperatures in September would have prevented fall items offered in-store sales. The sign has also suffered from increased competition, some rivals now offering items similar to its Heattech line against the cold.

Priority international

This underperformance will not help Fast Retailing to become the world leader in the sector, its target for 2020. Because it is in the Japan that the group is still 75 of its sales. On 862 Uniqlo stores worldwide, 770 are implanted in the archipelago. To rebalance its activity and reduce this dependence to its historic market, Fast Retailing began in 2001 to the onslaught of foreign consumers, with England, and then China. But it is especially 2006, year of the opening of his store in New York, which marked a turning point. With the desire to develop the concept throughout the world. Internationalization is a strategic priority. The weight of the activities outside the Japan has almost doubled in one year for 72.7 billion yen. But it is still modest, less than 10 of the total turnover. For 2011, the group put on 100 billion yen.

After the success of the Parisian "flagship" opened a year ago, Japanese clothing giant recalled that in addition to China, where he put on 1,000 stores in 2020, compared to 54 today, Europe is in the viewfinder. Its goal is to reach 10 billion euros of sales in the area in ten years, opening a 300 points of sale, including in the capitals such as Berlin or Barcelona.

The perspectives down speakers after another year of progress for Fast Retailing, but less steady than expected. On the 2009-2010 fiscal year, the group saw and its net income leap from 24 to 61.7 billion yen (536 million euros), while he was on 67 billion. Its turnover, him, increased over the period of 19 percent, to 815 billion yen (7 billion). The title has closed down 2.3 Friday. He lost more than a quarter of its value since the beginning of the year.