Marimekko loss widens due to costly U.S. expansion
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.
- Radar showed missing plane may have turned back: Malaysia military
- Malaysian jetliner may have turned back before vanishing |
- Malaysian plane presumed crashed; questions over false IDs |
- Malaysian jet's disappearance among rarest of aviation disasters