Uniqlo parent Fast Retailing revises outlook up after China pop

Japanese casual clothier raises annual revenue forecast to $20bn

Fast Retailing, parent of Uniqlo, says sales in China for the first two months of 2023 hit a record, as it forecasts a 16% rise in full-year revenue. (Photo by Makoto Okada)

NATSUMI KAWASAKI, Nikkei staff writer

April 13, 2023 19:00 JST

TOKYO -- Uniqlo owner Fast Retailing has raised its revenue forecast for the year through August after the ending of China’s COVID restrictions gave a sharp boost to the company's sales.

The Japanese fast-fashion giant said on Thursday it now expects full-year revenue of 2.68 trillion yen ($20 billion), up 16% from the previous year’s result. Its previous full-year forecast, in January, was for a 2.65 trillion yen total.