Marimekko posts Q2 FY20 sales of €23 mn

Fashion

13 Aug `20

2 min read

Marimekko, a Finnish lifestyle design company, has announced its second quarter (Q2) financial results for fiscal 2020. Company’s net sales fell 20 per cent to €23.3 million (Q2 FY19: €29.1 million) due to retail decline in Finland, North America and Scandinavia and decrease in wholesale sales in Asia-Pacific region during the quarter ended on June 30, 2020.

Marimekko, a Finnish lifestyle design company, has announced its second quarter (Q2) financial results for fiscal 2020 ended on June 30, 2020. Company`s net sales fell 20 per cent to €23.3 million (Q2 FY19: €29.1 million) due to retail decline in Finland, North America and Scandinavia and decrease in wholesale sales in Asia-Pacific region during the quarter.#

“During the period under review, the global fashion industry and specialty retail sector faced the worst crisis seen in several decades. The coronavirus pandemic brought discretionary consumption to a halt, which has led to serious financial difficulties for many players and has already toppled several significant companies in our industry,” Tiina Alahuhta-Kasko, president and CEO at Marimekko, said in a press release. “Dramatically, due to the pandemic, the doors of most Marimekko stores around the world closed temporarily.”

Marimekko, a Finnish lifestyle design company, has announced its second quarter (Q2) financial results for fiscal 2020 ended on June 30, 2020. Company`s net sales fell 20 per cent to €23.3 million (Q2 FY19: €29.1 million) due to retail decline in Finland, North America and Scandinavia and decrease in wholesale sales in Asia-Pacific region during the quarter.#

Sales in Finland fell 32 per cent while international sales were marginally affected by 3 per cent to €11.9 million (€12.4 million). While operating profit was €2.7 million (€3.7 million) during Q2 FY20. Company reported its result for the period (profit) were €2.2 million (€2.6 million).

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