Japanese fashion retailer Fast Retailing Group has released its third quarterly financial results, posting rises in both revenue and profit, stating a vision to become the world’s number one apparel retailer.

The group reached a revenue of ¥1.7 trillion (AU$20 billion) for the nine months to May 2018; almost reaching its financial 2017 result of ¥1.8 trillion (AU$21 billion) with three months to spare, up 15.3 per cent year on year.

Operating profit for the period hit ¥238.8 billion (AU$2.86 billion), increasing by 32.3 per cent year on year.

Uniqlo International, itself made up of multiple regions, posted significant growth over the period.

Uniqlo South-East Asia and Oceania reported “continued double digital growth” in same store sales, primarily on the back of strong sales of T-shirt, Polo and Shorts.

Same-store sales at Uniqlo Greater China achieved double digit year on year growth tied to a strong spring-summer ranges launch. Uniqlo South Korea’s gross profit margin improved due to reduced discounting.

Uniqlo Japan reported a considerable rise in both revenue and profit for the first nine months of fiscal 2018, with revenue totalling ¥704.4 billion (AU$8.44 billion), a 7.8 per cent increase year on year, and operating profits increasing 29.6 per cent year on year to ¥120 billion (AU$1.44 billion).

“While the cost of sales continued to rise over the period due to persistent weakening in internal yen exchange rates, that negative impact was successfully offset by stricter discounting rates,” said the company in a media release.

Japanese online sales increased by 33.1 per cent to ¥16.4 billion (AU$200 million), constituting 7.8 per cent of total revenue, largely driven by a newly launched click-and-collect option.

Access exclusive analysis, locked news and reports with Inside Retail Weekly. Subscribe today and get our premium print publication delivered to your door every week.