Marimekko repeated its bleak estimate for the company’s rest-of-the-year result in its Wednesday stock exchange release.
According to President and CEO Mika Ihamuotila, the firm’s difficult market situation continued during the first quarter of the year, and there are no signs of improvement in sight.
“We anticipate the Marimekko Group's 2009 net sales to decrease by 5-10% and operating profit to decline distinctly compared with 2008 if the weak market situation continues in 2009 and Marimekko does not succeed in winning any significant orders for one-off promotions", Ihamuotila says in a press release.
A similar warning of the company’s result was already given in connection with the closing of the accounts in January.
The recession has affected Marimekko’s exports and domestic wholesale deliveries in particular. The situation with the domestic retail branch is significantly better, Ihamuotila says.