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The net sales and operating profits of Marimekko fell notably in the third quarter of the year.

The iconic design company reported on Thursday that its net sales slipped by 8 per cent year-on-year to 25 million euros and that its operating profits fell from nearly 5 million to 1.2 million euros between July and September.

“I am not satisfied with the development of our sales,” Tiina Alahuhta-Kasko, the chief executive at Marimekko, states in a press release roughly six months after taking the reins of the design company.

Marimekko also reported that its retail sales remained close to last year's levels but that its wholesale sales dipped by 20 per cent year-on-year. The design company expects that its annual operating profits will consequently fall short of those reported for the previous year. Its net sales, in turn, are not expected to exceed the levels of last year.

Eroding consumer confidence and downward economic trends, in particular, represent short-term risks for Marimekko.

Products designed by Marimekko are sold in roughly 40 countries.

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© HELSINGIN SANOMAT

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