European heatwave damps sales growth at clothing retailer Uniqlo - FT中文网
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European heatwave damps sales growth at clothing retailer Uniqlo

Hot weather forces some stores to close temporarily
00:00

{"text":[[{"start":7.3,"text":"A record European heatwave forced some Uniqlo stores to close temporarily last month, the Japanese fashion group has said, damping an expected sales bump from summer clothing."}],[{"start":19.5,"text":"Fast Retailing, owner of the Uniqlo brand, has become one of the biggest retailers to lay bare the extent to which searing temperatures from the middle of May hit shopping in Europe."}],[{"start":30.75,"text":"Chief financial officer Takeshi Okazaki said during quarterly earnings on Thursday that some stores in the region had faced temporary closures, while many consumers stayed home because of the searing heat."}],[{"start":43.45,"text":"Fast Retailing clarified that a “very limited number” of stores shortened opening hours in the last week of June because of the heat, but all stores were now operating normally."}],[{"start":54.85,"text":"The company had expected bumper sales of its lightweight linen shirts, breathable layers and shorts during the summer."}],[{"start":61.6,"text":"“European cities’ cooling systems were not designed with this level of heat in mind, so it became an extremely dangerous situation temporarily. During this time we had stores that couldn’t operate,” Okazaki said. “We could have perhaps sold more under more normal circumstances.”"}],[{"start":79.35,"text":"He said Uniqlo would review the ability of its stores to swiftly restart operations and supply-chain logistics after closures. It would also look at the cooling installed in European stores and continue developing clothes to help consumers withstand the heat."}],[{"start":94.64999999999999,"text":"Thin, breathable clothing to endure Japan’s humid summers has been one of Uniqlo’s key exports as the clothing retailer executes an ambitious global expansion at a time when climate change is leading to more unpredictable weather."}],[{"start":109.05,"text":"Other retailers have also been affected by the heatwave. UK bakery Greggs was forced to shut 11 stores in the UK for two days, while Marks and Spencer is reviewing its plans to cope with days above 45C after refrigeration systems in some stores broke down."}],[{"start":126.5,"text":"Industry rival H&M has said it plans to adapt its clothing line-ups to account for hotter weather lasting longer throughout the year."}],[{"start":135.15,"text":"Okazaki’s comments came as Fast Retailing lifted its full-year revenue and profit forecast after outstripping company and analyst expectations in the quarter to the end of May."}],[{"start":146.15,"text":"Net profit rose 39.1 per cent to ¥146.7bn ($903mn). The performance was buoyed by strong sales outside Japan and new store openings in Europe and the US. Despite the scorching heat, sales in Europe still recorded double-digit growth."}],[{"start":167,"text":"Its annual forecast of ¥3.97tn in sales puts Fast Retailing on track to overtake Sweden’s H&M as the number two fashion retailer, behind Zara owner Inditex."}],[{"start":178.65,"text":"Europe is Uniqlo’s fastest-growing region, coming alongside the US as its engine for future growth."}],[{"start":184.70000000000002,"text":"The sales boom for Uniqlo in global markets contrasted with a tougher environment at home, where an unexpectedly cool June caused a 14 per cent year-on-year sales drop and a weak yen has forced it to raise prices."}],[{"start":204.4,"text":""}]],"url":"https://audio.ftcn.net.cn/album/a_1783597962_4062.mp3"}

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