FOCUS-Amid US retail gloom, Uniqlo shines on COVID-triggered revamp [Reuters]
FAST RETAILING UNSP/ADR (FRCOY)
NASDAQ:AMEX Investor Relations:
fastretailing.com/eng/ir
Company Research
Source: Reuters
* No discounting as firm embraced new logistics, pricing plans * Company still ‘has a lot to prove' in North America -analyst * End of discounting risky -analyst; Xinjiang sourcing concerns TOKYO, Sept 2 (Reuters) - Just as inflation ravages the big guns of U.S. apparel retail, awash in high inventory and deep discounts to lure shoppers back to stores, Japan's Uniqlo is set for its best year ever in North America after a COVID-imposed revolution in its business model. Retailers from Gap to Kohl's are warning of slumping profit margins as inflation-wary customers hold off on buying clothing. But the flagship brand of Fast Retailing said it's poised to book its first annual profit in North America - after 17 years of trying - aided by a revamp of its logistics and pricing strategy, introduced during the pandemic, and essentially halting discounting. Fast Retailing didn't say how much it will make from its 59 Uniqlo stores in the region, 43 of which are in the United States wi
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