Marimekko says set for return to profit after Q2 loss
HELSINKI Aug 14 (Reuters) - Finnish clothing and textiles company Marimekko reported a further second-quarter loss on Tuesday after investing heavily in new overseas stores, but maintained its forecast of strong sales and profit growth for the full year.
Marimekko, known for its colourful printed fabrics, said operating losses narrowed to 545 million euros in the quarter, down from a loss of 798 million in the same period last year.
The company, which has been expanding over the past few years in the United States, Japan, and other overseas markets, said it expects sales to grow over 10 percent and operating profit to at least double in 2012. (Reporting by Helsinki newsroom; Editing by Greg Mahlich)
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