Uniqlo Australia losses narrow as sales rise four-fold

Japanese retailer Uniqlo appears on track to make a maiden profit in Australia this year after sales rose almost four-fold in 2015 and losses halved.

According to audited accounts lodged with the corporate regulator last week, Uniqlo Australia’s sales rose 262 percent to AUD118.9 million in the 12 months ended August as the company opened another five stores, taking its footprint to six stores.

Uniqlo opened its seventh store in Eastland shopping centre in Melbourne in October and plans to open another three stores – in Sydney’s Chatswood and Indooroopilly and Queen St in Brisbane – in early 2016 while searching for sites in South Australia and Western Australia.