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2008-12-22 10:15:00 CET 2008-12-22 10:15:02 CET REGULATED INFORMATION Marimekko - Company AnnouncementMARIMEKKO EXPECTS LOWER-THAN-ANTICIPATED GROWTH IN FULL-YEAR NET SALES AND A SLIGHT DECLINE IN PROFITABILITYMarimekko Corporation STOCK EXCHANGE RELEASE 1 (1) 22 December 2008 at 11.15 a.m. MARIMEKKO EXPECTS LOWER-THAN-ANTICIPATED GROWTH IN FULL-YEAR NET SALES AND A SLIGHT DECLINE IN PROFITABILITY In 2008, the Marimekko Group's net sales are expected to grow, but growth is forecast to be lower than in 2007. The Group's relative profitability is anticipated to fall slightly. The weaker-than-expected performance in the last quarter is due to a significant decrease in sales in Finland and abroad in November and December. Despite a substantial promotional delivery in Finland and the opening of two new Marimekko concept stores in Japan, wholesale sales have been lower than anticipated. Sales in Marimekko's own retail stores have also declined. In its interim report dated 5 November 2008, Marimekko estimated that the Group's net sales growth and relative profitability for 2008 would remain at 2007 levels. The guidance also said that the company's business growth outlook was accompanied with a higher level of uncertainty than before because of the rapid weakening of the international economic outlook. Marimekko's results for the full year 2008 and the fourth quarter will be published on 29 January 2009 at 9 a.m. MARIMEKKO CORPORATION Group Communications Marja Korkeela Tel. +359 9 758 7238 Fax +358 9 759 1676 Email: marja.korkeela@marimekko.fi DISTRIBUTION: NASDAQ OMX Helsinki Ltd Principal media Marimekko's website www.marimekko.com Marimekko is a leading Finnish textile and clothing design company that was established in 1951. The company designs, manufactures and markets high-quality clothing, interior decoration textiles, bags and other accessories under the Marimekko brand, both in Finland and abroad. Marimekko products are also manufactured under license in various countries. In 2007, the company's net sales amounted to EUR 77.3 million. Exports and income from international operations accounted for 26.5% of the Group's net sales. The Group employs about 400 people. The company's share is quoted on the NASDAQ OMX Helsinki Ltd. For further information, visit www.marimekko.com |
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