Fast Retailing Co.’s impressive growth may finally be on the wane, as a sales plunge at home suggests the beginning of a difficult period.
Japan’s biggest apparel retailer by revenue said on Monday that domestic same-store sales at its Uniqlo casual-clothing chain in September were down 25 percent from the year-earlier month – its biggest such drop in seven years. Despite brisk overseas expansion, Japan still accounts for more than 90 percent of sales.
The company blamed a warm September for weakness in autumn clothing.
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(Source: The Wall Street Journal Online)