Marimekko net sales grow 17% in Q4 FY19

Fashion

17 Feb `20

3 min read

Marimekko, a Finnish lifestyle design company, reported 17 per cent increase in net sales to €34.7 million in fourth quarter (Q4) FY19 compared to same period prior year. Net sales for complete year increased 12 per cent to €125.4 million compared to prior financial year. International sales in FY19 increased 12 per cent to €54.3 million.

Marimekko, a Finnish lifestyle design company, reported 17 per cent increase in net sales to €34.7 million in fourth quarter (Q4) FY19 compared to same period prior year. Net sales for complete year increased 12 per cent to €125.4 million compared to prior financial year. International sales in FY19 increased 12 per cent to €54.3 million.#

Growth in the Q4 came primarily from increase in retail (19 per cent) and wholesale (21 per cent) sales in Finland to €21.9 million as well as increased wholesale sales and licensing income in the Asia-Pacific region. Wholesale sales growth in the Asia-Pacific relative to the comparison period was mainly due to the fact that a part of wholesale deliveries to the region took place in the first quarter of 2019 instead of the final quarter of 2018.

Marimekko, a Finnish lifestyle design company, reported 17 per cent increase in net sales to €34.7 million in fourth quarter (Q4) FY19 compared to same period prior year. Net sales for complete year increased 12 per cent to €125.4 million compared to prior financial year. International sales in FY19 increased 12 per cent to €54.3 million.#

Operating profit in Q4 was €3 million. Comparable operating profit improved by 87 per cent and was €3 million. Earnings were boosted by sales growth, whereas higher fixed costs had a weakening impact on results.

Marimekko, a Finnish lifestyle design company, reported 17 per cent increase in net sales to €34.7 million in fourth quarter (Q4) FY19 compared to same period prior year. Net sales for complete year increased 12 per cent to €125.4 million compared to prior financial year. International sales in FY19 increased 12 per cent to €54.3 million.#

Retail sales increased 13 per cent and wholesale increased 8 per cent in FY19. Finland net sales rose 12 per cent to €71.2 million compared to FY18.

Marimekko, a Finnish lifestyle design company, reported 17 per cent increase in net sales to €34.7 million in fourth quarter (Q4) FY19 compared to same period prior year. Net sales for complete year increased 12 per cent to €125.4 million compared to prior financial year. International sales in FY19 increased 12 per cent to €54.3 million.#

Comparable operating profit in FY19 rose by 40 per cent to €17.1 million. Operating profit was €17.1 million. Operating profit for 2018 included a nonrecurring taxable capital gain of €6 million on the sale of the company's head office.

Marimekko, a Finnish lifestyle design company, reported 17 per cent increase in net sales to €34.7 million in fourth quarter (Q4) FY19 compared to same period prior year. Net sales for complete year increased 12 per cent to €125.4 million compared to prior financial year. International sales in FY19 increased 12 per cent to €54.3 million.#

Operating profit in FY19 was boosted by sales growth and improved relative sales margin. Higher fixed costs had a weakening impact on results.

Marimekko, a Finnish lifestyle design company, reported 17 per cent increase in net sales to €34.7 million in fourth quarter (Q4) FY19 compared to same period prior year. Net sales for complete year increased 12 per cent to €125.4 million compared to prior financial year. International sales in FY19 increased 12 per cent to €54.3 million.#

In the outlook for 2020, company reported that it expects sales in Finland to grow on the previous year. Japan is reportedly the most important country in Asia-Pacific region. The other countries' combined share of the company's net sales is still relatively small, as operations in these countries are at an earlier stage than in Japan.

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