Home / Knowledge / News / Apparel/Garments / Marimekko Q1 net sales decline 6% to €19.4mn
Marimekko Q1 net sales decline 6% to €19.4mn
09
May '14
In the first quarter of 2014, the Marimekko Group’s net sales fell by 6 percent relative to the same period last year and amounted to EUR 19.4 million (20.7). The decline in net sales is explained partly by a change in the rhythm of deliveries for wholesale: a large proportion of the products in the spring 2014 collection were delivered as early as December 2013, unlike the previous practice.
 
Operating result was EUR -1.7 million (-1.3). Operating result excluding nonrecurring items improved in spite of the downturn in sales and was EUR -1.1 million (-1.3). The closure of manufacturing operations located in Sulkava and Kitee, enhanced production efficiency at the textile printing factory in Helsinki as well as reorganisations in the United States and write-downs of company-owned stores contributed to the improved result.
 
The business climate for retail trade continued to be challenging, in Finland even more so than had been expected. In order to reinforce business competitiveness and to attain a more efficient organisational structure, during the period under review Marimekko conducted consultative negotiations concerning all operations in Finland with the exception of the personnel at the Helsinki textile printing factory. Arrangements were also made in the United States. Moreover, Marimekko initiated an international recruitment process for a new Creative Director for the company.
 
In 2014, Marimekko will continue to invest in growth while focusing on enhancing the operations of its stores, on improving the overall profitability of its business, and on creating even more attractive design and products.
 
Mika Ihamuotila, President and CEO, said, “The present-day business climate for retailing sets challenges for us as for other players in the trade. Consumer and corporate confidence has been low and, although a small upturn was detectable in March, consumers in Finland are still very cautious. The weak trend in Marimekko's retail business which started in the second quarter last year has continued in the early months of this year. I am, however, confident about growth in Asia in particular, and I am also pleased that our dependence on the domestic market has diminished. 


Must ReadView All

Apparel/Garments | On 23rd Sep 2017

AAFA urges negotiators to preserve TPLs in NAFTA

The American Apparel & Footwear Association (AAFA), an alliance of...

Textiles | On 23rd Sep 2017

SIMA urges Centre to re-look duty drawback rates

he Southern India Mills’ Association (SIMA) has appealed to the...

Textiles | On 23rd Sep 2017

PKR 690.65-mn budget for Pakistan Cotton Committee

The Pakistan Central Cotton Committee (PCCC) recently approved a PKR...

Interviews View All

Headhonchos
Indian fashion industry

Cotton consumption will keep growing in the Indian fashion industry

Anshul Sood
Oceedee

‘Indian footwear market is nascent and largely a trend follower’

Janak Dhamanwala & Sunil Dhamanwala
Jansun

Moving towards sustainability is also a social change

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

September 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
74.5%
No
12.8%
Skip
12.8%

Total Votes: 47

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
61.7%
No
25.5%
Skip
12.8%

Total Votes: 47

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.2%
No
6.4%
Skip
6.4%

Total Votes: 47

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
70.2%
No
10.6%
Skip
19.1%

Total Votes: 47


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search