Marimekko posts Q3 retail sales growth of 12 percent

Marimekko’s net sales decreased by 1 percent and totaled 47.2 million euros due to lower wholesale sales in Finland. On the other hand, retail sales grew by 12 percent.

The company’s year-to-date net sales grew by 4 percent and amounted to 128.6 million euros boosted by the growth of retail sales in Finland and an increase in wholesale sales in the Asia-Pacific region.

Net sales during the third quarter in Finland decreased by 9 percent, while retail sales in Finland increased by 8 percent. International sales grew by 9 percent with both retail and wholesale sales increasing.

Nine-month period net sales in Finland increased by 2 percent due to favourable development of retail sales. International sales grew by 7 percent with retail sales increasing in all and wholesale sales in nearly all market areas.

Operating profit for the quarter was 11.1 million euros, while comparable operating profit totaled 11.1 million euros. Year-to-date operating profit was 22.3 million euros and comparable operating profit declined to 22.7 million euros.

The Marimekko Group's net sales for 2024 are expected to grow from the previous year with a comparable operating profit margin estimated to be approximately 16 to 19 percent.