Marimekko Corporation, a Finnish design company whose portfolio includes high-quality clothing, bags and accessories, has revised its earlier full-year 2017 estimate of comparable operating profit. According to the new estimate, the Group’s comparable operating profit for 2017 is expected to be at the same level as or higher than in the previous year.
In its half-year financial report published in August this year, the company estimated that its net sales and comparable operating profit for the whole year would be at the same level as in the previous year.
But the company has revised its estimate due to better-than-expected relative sales margin and trend in its retail sales as well as increased royalties.
Due to the seasonal nature of Marimekko’s business, the major portion of the company’s net sales and earnings are traditionally generated during the last two quarters of the year. The share of holiday sales in particular of the company’s net sales for the last quarter is considerable and the outcome of the holiday season has a significant impact on results for the whole year.
Marimekko products are sold in about 40 countries. In 2016, brand sales of the products worldwide amounted to €199 million and the company’s net sales were close to €100 million. (RKS)
Fibre2Fashion News Desk – India