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Sales up 24%: Marimekko improves in 2nd quarter

Finnish fabrics and fashion firm Marimekko said net sales grew by 24 percent during its second quarter.

Marimekon kesänäytös Esplanadin puistossa.
2016 file photo of Marimekko fashion show in Helsinki. Image: Iisa Kinnunen / AOP

In an announcement issued Thursday, Marimkekko said that during its second quarter net sales grew by 24 percent to 28.2 million euros, an increase compared to the same period last year, which saw 22.8 million euros in sales.

The firm attributed the growth to boosted sales in Finland and in the Asia-Pacific region, saying that its domestic retail sales were bolstered by adjusting the timing of its spring sales and promotions.

Marimekko's profits were also up during Q2, according to the company, which were in part helped by the sale of the company's head office. The firm said operating profits grew to 9.1 million euros, but that included a 6-million-euro cash injection from the office sale.

In its outlook for the rest of the year, the firm said it expects net sales to improve over last year, but said operating profits would remain unchanged.

In recent years the company has expanded internationally, particularly in the Asia-Pacific region, however Marimekko reports that the Finnish market accounts for roughly half of its net sales.

The firm said it plans to continue expanding and intends to open 10-15 new Marimekko outlets, and said it expects continued growth in its online sales outlets.

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