Photo taken on Jan. 12, 2014 shows landmarks of the Sanlitun district in Beijing, capital of China. (Photo/Xinhua)
Uniqlo, a Japan-based clothing company, reported a decline in operating profits with a 23 percent year on year drop to US$1.27 billion in the first three quarters of the fiscal year.
At the same time, the pre-tax profits of the clothing manufacturer tumbled by 46.4 percent on a yearly basis to US$617 million.
The popular clothes maker has suffered decline for three consecutive years.
Uniqlo's net profits in 2014 dropped by 28.7 percent year on year to US$693 million and fell even deeper in the first half of the fiscal year in 2015, plunging by 55.1 percent, the biggest drop in a five-year period.
Fashion brands, such as H&M, Gap and Zara, occupied and swept the clothing market from 2008 to 2012. They soon became mainstays in the fashion market on the Chinese mainland, where many customers came to know the brands for the first time.
Uniqlo, however, is expected to meet great challenges as fashion brands have been challenged by capricious market demands.
