|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||63.48 - 64.31|
|52 Week Range||42.08 - 66.58|
|Beta (3Y Monthly)||0.56|
|PE Ratio (TTM)||48.32|
|Forward Dividend & Yield||0.44 (0.68%)|
|1y Target Est||N/A|
Japan's Nikkei edged higher in choppy trade on Friday, helped by index heavyweight Fast Retailing, but weak profits from some firms such as Yaskawa Electric dragged on machinery stocks. In afternoon trade, virtual currency exchange operator Remixpoint Inc started tumbling and ended 19% lower after saying it had detected an improper leak of virtual currency worth around 3.5 billion yen. Fast Retailing jumped 3.2% and contributed a hefty 79 points to the Nikkei.
Uniqlo reportedly paid Roger Federer $300m to wear its kit at Wimbledon. The endorsement has not helped Fast Retailing, owner of the Japanese fast-fashion chain, ace its earnings. A 9 per cent rise in third-quarter operating profits missed expectations.
(Bloomberg) -- Fast Retailing Co.’s profit fell short of analyst estimates as weakness in the Uniqlo owner’s home market of Japan overshadowed a strong showing in overseas markets, particularly China.Operating profit rose to 74.8 billion yen ($692 million) in the three months ended May 31, according to a statement Thursday from Asia’s largest retailer. That compares with analysts’ average estimate of 79.4 billion yen.Key InsightsThe results show Japan’s domestic market still has a huge influence on Fast Retailing’s fortunes. Domestic results were weighed down as the company shifted a sales event to June, causing Uniqlo’s Japan revenue to fall 0.5% for the quarter.China continues to be one of the main engines driving overseas expansion, with sales in the country rising in the double digits. Uniqlo so far hasn’t been hurt by the trade war between the U.S. and China, and sales there were strong even in the face of a weaker yuan. GU, Fast Retailing’s lower-price brand, is making a bigger impact on results. Operating profit more than doubled for the quarter, as the company credited new products with mass-fashion appeal. GU, which has been ramping up advertising efforts toward younger shoppers, is speeding up store openings in Japan and overseas.Uniqlo is at risk from the recent diplomatic feud between South Korea and Japan over exports. The company is seeing an impact from a South Korean boycott of Japanese goods, Chief Financial Officer Takeshi Okazaki said in Tokyo, but he added that any damage will be “short term.” Market PerformanceFast Retailing shares have been on a tear this year, jumping 20%, compared with a 5.7% increase in the benchmark Topix Index. The stock rose 1.2% to an all-time high on Thursday in Tokyo before earnings were released.Get MoreFor more on the company’s results, click here.Click here for company presentation.To contact the reporters on this story: Mei Futonaka in Tokyo at email@example.com;Lisa Du in Tokyo at firstname.lastname@example.orgTo contact the editors responsible for this story: Rachel Chang at email@example.com, Jeff Sutherland, Bhuma ShrivastavaFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
The famous Swiss tennis player has more than a few trophies to his name. With the 2019 Wimbledon tournament fast approaching and the superstar seeded second in the tournament, all eyes are sure to be on Roger Federer. According to Celebrity Net Worth, Federer's net sits at around $450 million, with reported ATP career earnings totaling around $124.8 million as of June 2019 (not including endorsements).
(Bloomberg) -- Asia’s largest retailer is hoping that a $280,000 annual salary and a managerial title in three years will lure top talent as it grapples with one of the tightest labor markets in Japanese history.The salary being considered by Uniqlo owner Fast Retailing Co. would be more than three times the average pay at the company, and nearly 10 times the national average in Japan for those with similar employment tenures.The higher pay is meant to draw in talented people to Fast Retailing and is being considered by Chief Executive Officer Tadashi Yanai, the company said. He is mulling putting the higher salaries into effect next spring. The effort follows a move earlier this year to raise compensation for some new hires.The company is considering promising young talent a move into management within three years with annual salaries of 20 million to 30 million yen ($279,329) for those sent to the U.S. or Europe, and more than 10 million yen for those in Japan, according to a Nikkei report from an interview with Yanai.As Japan struggles with an aging population and a shortfall of young workers, businesses are dismantling previously sacred cultural norms, like the correlation of pay with experience, and the notion of lifetime employment. Tech companies in Japan have made similar moves to draw in young talent, promising million dollar salaries and raising starting pay by 20 percent for top candidates.The average Fast Retailing annual pay was about 8.77 million yen as of August 2018, according to company filings. The lowest salary at the company was about 4 million yen a year, the Nikkei report said, citing previous data from the company’s recruiting website. Nationally, the average annual salary for workers with up to four years of work experience was 3.1 million yen in 2017, according to figures compiled by the National Tax Agency.Fast Retailing assigns most fresh recruits to work in Uniqlo stores, but under the new system, more will be sent to specialized departments that suit their skills in areas including information technology and design, according to the Nikkei report. The company will then choose candidates for managerial positions in Japan and overseas after three to five years.\--With assistance from Ryan Lovdahl.To contact the reporters on this story: Lisa Du in Tokyo at firstname.lastname@example.org;Chikafumi Hodo in Tokyo at email@example.comTo contact the editors responsible for this story: Shamim Adam at firstname.lastname@example.org, Dave McCombs, John McCluskeyFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Fast Retailing, the company behind the Uniqlo chain of apparel stores, announced Monday that the data of more than 460,000 customers on its online shopping sites were accessed by hackers from April 23 to May 10.
Japan's Nikkei share average rose on Friday but was little changed for the week, as many investors stayed on the sidelines ahead of the U.S. and domestic earnings season and an upcoming 10-day holiday in Japan. The benchmark Nikkei ended the morning session at 21,841.90, up 130.52 points, or 0.6 percent, on the day, largely thanks to its heavyweight Fast Retailing Co Ltd, which soared 7.8 percent to contribute a hefty 160 points, or 0.7 percent, to the Nikkei. The broader market was not as rosy as the Nikkei might suggest, with the Topix index dropping 0.1 percent to 1605.39.
Japanese stocks rose on Wednesday as optimism over U.S.-China trade talks boosted shippers and other cyclical shares while index heavyweight Fast Retailing soared after it reported strong monthly sales. The Financial Times reported that top U.S. and Chinese officials have resolved most of the issues standing in the way of a deal to end their long-running trade dispute but are still haggling over how to implement and enforce the agreement, citing people briefed on the talks. The report came on the heels of U.S. President Donald Trump's comment that the trade talks with China were going very well.
Uniqlo has a new spring jacket with has four large square pockets. Some say it resembles the uniform worn by Mao Zedong. The company, owned by Fast Retailing, describes the jacket as an "iconic military jacket" that is part of its "progressive essentials" collection.
Japanese retailers are doing a better job than their U.S. rivals in selling into those "shops." Increasingly, they don't care if the sales are offline or online. The pace, like most things in China, is electric. Before China's capitalist-leaning reforms truly kicked in, the merchandise in all stores was kept behind counters, and consumers stood on the other side.
Nike is seeing success from its Kaepernick sponsorship, but it's an exception to the new rule—big lucrative endorsement deals are going out of style.