Fashion
Uniqlo and GU continue to drive Fast Retailing but Theory still weak
Published
January 8, 2026
Uniqlo owner Fast Retailing released its Q1 results on Thursday and said its business profit jumped, leading it to increase its outlook.
That came as Chinese sales picked up — hugely important given that’s the Japanese giant’s largest market — and other global markets also proved buoyant, helping counter the impact of US tariffs.
The company continued to open new stores around the world during Q1, particularly in Europe. And seemingly undaunted by the tariffs issue, it has plans for a series of flagships in key US cities too.
In fact, its CFO said it beat its profit margin expectation despite absorbing tariff costs.
So what were the numbers? Fast Retailing said business profit climbed 31% to ¥205.6 billion (€1.1bn/£975m/$1.3bn) as revenue jumped almost 15% ¥1.0277 trillion and net profit rose 11.7% to ¥147.4 billion.
Uniqlo performed strongly in all regions, reporting revenue and profit gains across the board. “High-quality store openings and strategic information dissemination contributed considerably to our branding,” it said. “We also improved the organisation of inter-season business, enabling Fall products and year-round products to drive sales during that period”.
Looking at its operating units in detail, Uniqlo Japan saw revenue up 12.2% at ¥299 billion with business profit up 20.2% at ¥62.4 billion. Same-store sales expanded 11%, with sales of Fall products and year-round products proving especially strong, as mentioned. But the gross profit margin contracted slightly on the rise in the cost of sales caused by a weakening in yen forward contract rates.
Uniqlo International saw revenue up 20.3% at ¥603.8 billion and business profit up 38% at ¥117.3. The business profit margin rose following improvements in gross profit margins and its strong performance “was driven by the successful development and marketing of products that captured customer demand, as well as the continued opening of high-quality stores worldwide”.
The Greater China markets reported an increase in revenue and double-digit profit growth while the business in South Korea, Southeast Asia, Australia, India region, Europe, and North America all generated double-digit revenue and profit growth.
At the youth-focused GU brand meanwhile, revenue only edged up by 0.8% to ¥91.3 billion but business profit jumped 20% to ¥11.4 billion.
Same-store sales fell slightly year on year. While soft sheer T-shirts, warm casual innerwear, and some other products sold well, overall sales “failed to gain momentum due to a lack of sufficient products that captured mass fashion trends”. But the gross profit margin still improved due to fewer product shortages and improved discounting rates.

At its Global Brands operation, the picture was less rosy. Revenue fell 7.6% to ¥33 billion and operating profit dived 14.8% to ¥1.7 billion.
Revenue and profit from the Theory label declined due to “lacklustre sales” from the business in the US. But PLST performed better, reporting “higher year-on-year revenue and profit”, although the company didn’t give any numbers here. It also said the combined Comptoir des Cotonniers and Princesse tam.tam business “reported a decline in revenue but also a contraction in overall losses”.
As mentioned, the group raised its guidance for the whole of FY26, saying it expects consolidated revenue of ¥3.8 trillion (up 11.7%), consolidated business profit of ¥650 billion (up 17.9%), and net profit up 3.9% at ¥450 billion, all higher than previously predicted.
Copyright © 2026 FashionNetwork.com All rights reserved.
Fashion
Germany’s employment steady at 46 mn in November 2025
Without seasonal adjustment, the number of persons in employment rose slightly by 7,000 month- on-month. This increase was weaker than the average rise typically recorded in November between 2022 and 2024, signalling softer labour market momentum towards the end of the year, Destatis said in a press release.
On a year-on-year (YoY) basis, employment in November 2025 was 51,000 lower than in November 2024, representing a decline of 0.1 per cent. This continued the mild downward trend observed since July, with similar annual declines recorded between August and October.
Germany’s employment held steady at around 46 million people in November 2025, with seasonally adjusted figures virtually unchanged MoM, according to Destatis.
Employment was 0.1 per cent lower year on year, extending a mild downward trend.
Unemployment rose to 1.64 million, up 11.6 per cent from a year earlier, while the adjusted jobless rate remained stable at 3.8 per cent.
Unemployment, however, showed a clearer increase. The labour force survey indicated that 1.64 million people were unemployed in November, up by 171,000, or 11.6 per cent, compared with a year earlier. The unemployment rate rose to 3.7 per cent, up 0.4 percentage points YoY.
After adjusting for seasonal and irregular effects, unemployment stood at 1.67 million, an increase of 7,000 from October. The adjusted unemployment rate remained unchanged at 3.8 per cent, suggesting limited short-term movement despite rising annual pressures.
Fibre2Fashion News Desk (SG)
Fashion
Cotton yarn prices up in north India on rising fibre rates
Fashion
Next sales and marketing chief Shields to retire, Barnes steps up
Published
January 9, 2026
Next said Friday that Jane Shields, its group sales, marketing and HR director, is planning to retire from the company in May.
She’ll step down from the board on 21 May with the company saying she retires “after 40 years of outstanding service”. She actually joined as a sales assistant way back in 1985, was promoted to sales director 14 years later, then group sales & marketing director in 2010. She joined the board three years after that.
So who’s taking her role? Matt Barnes will be promoted to the role of group sales and marketing director and “will take on most of Jane’s operational remit”. That means e-commerce, brand marketing, retail stores and online customer services.
Barnes is another company veteran who joined in 1999. He’s currently online customer service director and won’t be joining the board “at this stage”.
Meanwhile the company also announced some non-exec director board changes with Jonathan Bewes, senior independent director and chairman of the Audit Committee, set to retire from the board on 21 May after a nine-year tenure.
Annette Court and digital specialist Jeni Mundy will be appointed as independent non-executive directors with effect from 1 March and 1 April, respectively. Court will be appointed as senior independent director from 21 May. Soumen Das is also being appointed Audit Committee chair at the same time.
Copyright © 2026 FashionNetwork.com All rights reserved.
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