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Marimekko Q3 FY20 sales rise 10% to €38 mn

16
Dec '20
Pic: Shutterstock
Pic: Shutterstock
Marimekko, a Finnish lifestyle design company, has announced its third quarter (Q3) financial results for fiscal 2020 ended on September 30. Despite the challenging situations, company’s sales rose 10 per cent to €38.0 million compared to sales of €34.5 million in the same period last year. Company’s earnings were up €8.0 million (Q3 FY19: €6.4 million).
 
“Wholesale sales and prompt adjustment measures helped Marimekko increase its net sales and improve its results in a challenging operating environment. Continued strong online sales supported retail sales as the pandemic kept affecting customer numbers of brick-and-mortar stores,” Tiina Alahuhta-Kasko, president and CEO at Marimekko, said in a press release.
 
Sales in Finland increased 17 per cent to €22.9 million while international sales grew 2 per cent to €15.0 million (€14.7 million). 
 
Company’s EBITDA for the quarter was €13.6 million (€11.0 million). Operating profit was €10.5 million (€7.8 million) during Q3 FY20. 
 
“The pandemic situation continues to be of concern in many of our markets, with new waves of infections being reported. This increases uncertainty in the final quarter of the year, which includes not only the holiday sales season but also other significant sales campaigns for Marimekko,” Alahuhta-Kasko said.
 
“We have systematically invested in the development of our digital business, and successful online sales are especially important in 2020. The line between e-commerce and physical stores is constantly blurring, and in the post-pandemic reality, stores need to fulfill their new role even more strongly in the eyes of consumers as meaningful meeting places and experiential platforms for what a brand has to offer,” Alahuhta-Kasko said in the release.

Fibre2Fashion News Desk (JL)


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