Marimekko loss widens due to costly U.S. expansion

HELSINKI Tue May 7, 2013 1:57am EDT

HELSINKI May 7 (Reuters) - Finnish clothing and home furnishings retailer Marimekko reported a wider first-quarter loss due to a costly expansion in the United States and weaker sales in Finland.

Its quarterly operating loss grew to 1.3 million euros ($1.7 million) compared with 0.9 million euros a year earlier. Sales grew 10 percent from a year earlier to 20.7 million euros, while the number of stores was up 19 percent at 108 shops.

The company, known for its colourful prints which decorate many homes in Finland, has been expanding in Asian and U.S. markets.

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