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MarketScreener Homepage  >  Equities  >  Tokyo Stock Exchange  >  Fast Retailing Co., Ltd.    9983   JP3802300008

FAST RETAILING CO., LTD.

(9983)
  Report
End-of-day quote. End-of-day quote Tokyo Stock Exchange - 01/18
90210 JPY   -0.86%
04:04aFAST RETAILING : (261kb)
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01/15Nomura Adjusts Fast Retailing's Price Target to 87,000 Yen From 85,000 Yen, Keeps at Neutral
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01/15Nikkei eases from over 30-year high; tech gains cap declines
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Fast Retailing : Uniqlo June sales seen strong, taking edge off pandemic woes

07/08/2020 | 04:09am EST
FILE PHOTO: Women walk past a store of the Fast Retailing's fashion chain Uniqlo, in Beijing

Japanese casual clothing chain Uniqlo is likely to report strong same-store sales for June, taking the edge off a profit plunge for owner Fast Retailing Co due to store closures and weak demand amid the coronavirus pandemic.

Fast Retailing is scheduled to announce March-May financial results and June domestic sales on Thursday. Analysts expect quarterly operating profit to slump around 90% year-on-year to 6.26 billion yen ($58.19 million), according to Refinitiv.

For June, JP Morgan analyst Dairo Murata forecast a 20%-30% jump in domestic same-store sales, helped by demand for the company's Airism face masks, which sold out quickly after going on sale that month. Japan began lifting pandemic lockdown measures in late May.

Such a rise, following declines of 57% in April and 18% in May, would be the strongest sign yet of the business recovering, at least in its home market. Stores in China, a key growth market, have also reopened and people are shopping again.

"We estimate a 3% sales boost from the Airism facemasks ... and these facemasks have also been highly effective in attracting consumers to stores," Murata said in a research note dated June 29.

While strong June sales may also highlight the company's relative strength among global fast-fashion peers, helped by its focus on practical clothes and strength in Asian markets, it may be too early to say the worst is past.

Some analysts warned that a bounce in June was likely driven by pent-up demand from consumers cooped up at home in previous months, and may be short-lived given the recession ahead.

The company in April forecast sales for the fiscal year ending Aug 31 would fall 9% to 2.09 trillion yen from a year earlier, and operating profit would slump 44% to 145 billion yen.

CEO Tadashi Yanai, who called the pandemic the biggest crisis for humanity since the end of World War Two, has warned that the forecast could be revised further.

(Reporting by Ritsuko Ando in Tokyo and Sayantani Ghosh in Singapore; additional reporting by Jasmine I.S. in Bengaluru; Editing by Kim Coghill)


© Reuters 2020
All news about FAST RETAILING CO., LTD.
04:04aFAST RETAILING : (261kb)
PU
01/15Nomura Adjusts Fast Retailing's Price Target to 87,000 Yen From 85,000 Yen, K..
MT
01/15Nikkei eases from over 30-year high; tech gains cap declines
RE
01/15FAST RETAILING : September-November 2020 Profit Edges Up on Strong Demand for Co..
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01/14Japan's Nikkei pulls back from 3-decade high, but tech stocks march ahead
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01/14UPDATE1 : Fast Retailing Sept.-Nov. operating profit jumps 23% amid pandemic
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01/14FAST RETAILING : Uniqlo owner's profits boosted by China, stay-at-home fashions
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01/14FAST RETAILING : First Quarterly Report 2020/21 (2020.9.1-2020.11.30)
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01/14FAST RETAILING : Results Summary (305KB)
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01/14FAST RETAILING : Results Announcement
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More news
Financials
Sales 2021 2 294 B 22 116 M 22 116 M
Net income 2021 179 B 1 730 M 1 730 M
Net cash 2021 541 B 5 214 M 5 214 M
P/E ratio 2021 51,2x
Yield 2021 0,57%
Capitalization 9 211 B 88 741 M 88 805 M
EV / Sales 2021 3,78x
EV / Sales 2022 3,39x
Nbr of Employees 57 727
Free-Float 51,3%
Chart FAST RETAILING CO., LTD.
Duration : Period :
Fast Retailing Co., Ltd. Technical Analysis Chart | 9983 | JP3802300008 | MarketScreener
Technical analysis trends FAST RETAILING CO., LTD.
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 17
Average target price 85 970,59 JPY
Last Close Price 90 210,00 JPY
Spread / Highest target 17,5%
Spread / Average Target -4,70%
Spread / Lowest Target -41,2%
EPS Revisions
Managers and Directors
NameTitle
Tadashi Yanai Chairman, President & Group CEO
Takeshi Okazaki Chief Financial Officer & Non-Executive Director
Masaaki Shintaku Independent Outside Director
Toru Hambayashi Independent Outside Director
Nobumichi Hattori Independent Outside Director
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