Uniqlo halves losses in UK as rollout continues

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The fashion retailer Uniqlo more than halved its losses in the UK last year and delivered a sharp rise in revenues, driven by improved underlying sales and new shop openings.

The chain, which has 14 stores in the UK, posted sales up by 50.2 per cent to £48.5m for the 12 months to 31 August 2009, according to accounts filed at Companies House this week.

However, Uniqlo, which is owned by the Japanese group Fast Retailing, suffered a pre-tax loss of £5.4m over the period, although this was better than the previous year's £11.6m deficit. Uniqlo said in the report it will continue to open stores in the UK.