Latest news with #FastRetailing
Business Recorder
4 hours ago
- Business
- Business Recorder
Nikkei lower
TOKYO: Japan's Nikkei share average gave up early gains to end lower on Friday, as geopolitical risks surrounding the Middle East conflict weighed on sentiment. The Nikkei fell 0.22% to 38,403.23, after rising as much as 0.4% earlier in the session. The index rose 1.5% for the week. The broader Topix fell 0.75% to 2,771.26 but posted a 0.54% weekly gain. 'With the absence of market-moving catalysts, uncertainties surrounding the Middle East tensions dragged investor sentiment,' said Shoichi Arisawa, general manager of the investment research department at IwaiCosmo Securities. The White House said on Thursday that US President Donald Trump will make a decision within the next two weeks whether to support Israel in its ongoing conflict with Iran. 'On top of the uncertainties about the conflict in the region, the outlook of the US tariff plans remains unclear,' said Arisawa. Uniqlo-brand owner Fast Retailing fell 1.8%, dragging the Nikkei the most. Phone company KDDI fell 1.72%. Game maker Nintendo slipped 4.11% to become the worst percentage loser on the Nikkei.
Saba Yemen
14 hours ago
- Business
- Saba Yemen
Japanese shares decline amid rising geopolitical risks
Tokyo - Saba: The Japanese index fell in early trading on Friday as geopolitical risks surrounding the conflict in the Middle East weighed on sentiment. The Nikkei average fell 0.1 percent to 38,442.36 points after rising 0.4 percent earlier in the session. The index is on track for a 1.6 percent weekly gain. The broader Topix index fell 0.29 percent to 2,784.02 points, but is on track for a 1 percent weekly gain. Fast Retailing, owner of the Uniqlo brand, lost 2.1 percent, weighing heavily on the Nikkei. Video game developer Konami Group fell 1.7 percent. Whatsapp Telegram Email Print
Fashion Network
16 hours ago
- Business
- Fashion Network
Princesse tam tam and Comptoir des Cotonniers heading for receivership
Another major French fashion player is under threat. has learnt that fashion retailer Comptoir des Cotonniers and lingerie chain Princesse tam tam are heading towards receivership proceedings. The owner of the two chains, Japanese group Fast Retailing, is about to file for receivership for both. The application is set to be filed with the Paris trade court on Friday June 20, sources close to the matter have told The two chains, bought by Fast Retailing in 2005, have been battling the fashion market's headwinds for several years, having been reorganised three times in succession, in 2018, 2021 and 2023. The move that will make it easier for the two chains to go into receivership was made by Fast Retailing in September 2024, when it decided to merge the two businesses into a single corporate entity, under the Fast Retailing France company. The latter doesn't include the lucrative business of Uniqlo in France, whose 30 stores are run by a European holding company based in London. With the reorganisation carried out two years ago, Princesse tam tam deployed a redundancy plan that led to the closure of 27 out of 69 stores, for a loss of 84 out of 235 jobs, while Comptoir des Cotonniers closed 28 out of 67 stores and slashed 101 out of 272 jobs. The chains are currently operating a total of nearly 90 stores, approximately 50 for Princesse tam tam and about 40 for Comptoir des Cotonniers. In spring 2024, in an effort to revive their fortunes, the chains, led by Kunii San, announced they were cutting retail prices by approximately 30%, in order to attract a broader clientèle, notably 25 to 35-year-olds. They also forged closer links with Uniqlo, dropping joint capsule collections and opening shop-in-shops within Uniqlo stores. Comptoir des Cotonniers, which became part of Fast Retailing exactly 20 years ago, was an extremely popular brand in the 2000s and 2010s in France, characterised by a casual-chic style and adverts chiefly featuring mothers and daughters. The brand was founded in 1995 by the Elicha family, opening its first stores in the Toulouse area. Princesse tam tam was created 10 years earlier, in 1985, designed by the sisters Loumia and Shama Hiridjee. It carved out a niche for itself in the French fashion landscape with its brightly coloured underwear and swimwear featuring successful prints, taking a sideways step from classic French lace items. Another two fashion chains active in the French retail sector are therefore adding their names to the list of defaults, following the first tremor caused by Camaïeu going into liquidation in 2022. Recently, Jennyfer has liquidated most of its assets, as did Café Coton, while Naf Naf and André have both been placed in receivership. By initiating these proceedings, Fast Retailing has made the decision to no longer give financial support to Princesse tam tam and Comptoir des Cotonniers, and to stop feeding them cash. However, the group is doing extremely well on a global scale. In H1 of fiscal 2024/25, its net income jumped 19.2% to reach ¥233.5 billion (€1.4 billion). Revenue in the period grew by 12% to ¥1.790 trillion (€10.7 billion).
Time of India
a day ago
- Business
- Time of India
Japan's Nikkei ends lower as uncertainties in Middle East conflict weigh
Japan's Nikkei share average gave up early gains to end lower on Friday, as geopolitical risks surrounding the Middle East conflict weighed on sentiment. The Nikkei fell 0.22% to 38,403.23, after rising as much as 0.4% earlier in the session. The index rose 1.5% for the week. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like If You Eat Ginger Everyday for 1 Month This is What Happens Tips and Tricks Undo The broader Topix fell 0.75% to 2,771.26 but posted a 0.54% weekly gain. "With the absence of market-moving catalysts, uncertainties surrounding the Middle East tensions dragged investor sentiment," said Shoichi Arisawa, general manager of the investment research department at IwaiCosmo Securities. The White House said on Thursday that U.S. President Donald Trump will make a decision within the next two weeks whether to support Israel in its ongoing conflict with Iran. Live Events "On top of the uncertainties about the conflict in the region, the outlook of the U.S. tariff plans remains unclear," said Arisawa. Uniqlo-brand owner Fast Retailing fell 1.8%, dragging the Nikkei the most. Phone company KDDI fell 1.72%. Game maker Nintendo slipped 4.11% to become the worst percentage loser on the Nikkei. Chip-related shares rose, with Advantest jumping 4.2% to become the biggest support to the Nikkei. Lasertec rose 4.97% to become the top percentage gainer on the Nikkei. Machinery maker Amada rose 4.43% Of more than 1,600 stocks trading on the Tokyo Stock Exchange 's prime market, 27% rose and 69% fell, while 3% traded flat.
Business Recorder
a day ago
- Business
- Business Recorder
Japan's Nikkei trades lower as uncertainties in Middle East conflict weigh
TOKYO: Japan's Nikkei share average reversed early gains to trade lower on Friday as geopolitical risks surrounding the Middle East conflict weighed on sentiment. As of 0208 GMT, the Nikkei was down 0.1% at 38,442.36, after rising as much as 0.4% earlier in the session. The index is set to rise 1.6% for the week. The broader Topix fell 0.29% to 2,784.02 but is on course to post a 1% weekly gain. 'With the absence of market-moving catalysts, uncertainties surrounding the Middle East tensions dragged investor sentiment,' said Shoichi Arisawa, general manager of the investment research department at IwaiCosmo Securities. The White House said on Thursday that US President Donald Trump will make a decision within the next two weeks whether to support Israel in its ongoing conflict with Iran. 'On top of the uncertainties about the conflict in the region, the outlook of the US tariff plans remains unclear,' said Arisawa. Uniqlo-brand owner Fast Retailing fell 2.1%, dragging the Nikkei the most. Game maker Konami Group lost 1.7%. Department store operator Retailing fell 2.87% to become the worst performer of the Nikkei. Nikkei hits four-month high on weaker yen Chip-testing equipment maker Advantest jumped 4.6% to become the biggest support to the Nikkei. Chip-making equipment maker Tokyo Electron reversed early gains to trade 0.25% lower. Machinery maker Amada rose 5% to become the top performer of the Nikkei. Of more than 1,600 stocks trading on the Tokyo Stock Exchange's prime market, 37% rose and 57% fell, while 4% traded flat.
