Fast Retailing expects slow recovery from COVID-19 — Panjiva
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Fast Retailing expects slow recovery from COVID-19

China 3049 Cons. Discr. - Apparel 531 Cons. Discr. - Retailing 517 Coronavirus 511 Earnings 759 U.S. 5400 Vietnam 412

Fast Retailing, owner of Uniqlo, reported a 39.4% drop in revenues in the three months to May 31 compared to a year earlier due to store closures caused by COVID-19. While reopenings are beginning the firm still expects a 50% slide in North American revenues in the quarter to August 31. Uniqlo is far from alone in experiencing a downturn, with U.S. seaborne imports of apparel having dropped by 41.1% year over year in June after a 33.2% slide in the three months to May 31. Shipments linked to Uniqlo specifically fell by 49.0% year over year in June and have been reoriented towards Viet...

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