Operating result for the three months ended June 30, 2016 soared 200 per cent to €0.9 million from €0.3 million in the same quarter of the previous year at Marimekko Corporation.
According to the Finnish home textiles retailer, operating result was boosted by a lower cost level, growth in retail sales in Finland and Australia as well as increased royalties in North America.Operating result for the three months ended June 30, 2016 soared 200 per cent to €0.9 million from €0.3 million in the same quarter of the previous year at Marimekko Corporation. According to the Finnish home textiles retailer, operating result was boosted by a lower cost level, growth in retail sales in Finland and Australia as well as increased...#
“But, a drag was exerted on operating result by a decrease in relative wholesale margins combined with the timing of large wholesale deliveries in the first quarter of the year, unlike in 2015,” the company said.
Net sales remained unchanged at €23.5 million in the reporting quarter as against €23.4 million. Net sales were supported by strong retail sales in Finland and Australia and a rise in royalties in North America.
Marimekko forecast net sales for 2016 to be at the same level as in 2015, but operating profit excluding restructuring costs is expected to be higher than in the previous year. (AR)
Fibre2fashion News Desk - India
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