Fast Retailing (TSE: 9983) 3Q19 Results: Solid Revenue Growth, Company Maintains Outlook for Full FY19

Executive Summary

• Fast Retailing reported 3Q19 revenues of ¥555 billion ($5.1 billion), up 7.3%, and operating profit of ¥74.7 billion ($0.69 billion), up 9.3% from ¥68.3 billion ($0.63 billion) in the year ago period.
• By banner, revenues at Uniqlo Japan declined 0.5%; Uniqlo International revenues were up 15.3.6%; GU brand posted ¥68.1 billion ($0.63 billion) in revenue, up 12.1%. Global Brands (Theory, Comptoir des Cotonniers, Princess tam.tam) revenues were down 1.1%.
• For the full fiscal year, the company maintainted its forecast of consolidated revenues of ¥3 trillion ($21.16 billion) and an operating profit of ¥260 billion ($2.39 billion).