Marimekko: Hits pre-lockdown high on Q2 beat

Marimekko Oyj

13/08/2020 09:08

** Shares in Finnish fashion brand Marimekko  MMO1V.HE  rise
5% after the company reported Q2 results above consensus amid
reduced costs  urn:newsml:reuters.com:*:nL8N2FF2N7
    ** Marimekko's Q2 sales fell 20% to 23.3 million euros 
($27.5 million) against 19.8 million euros seen in consensus
    ** The fall in sales was not really strong seeing that a
huge part of the company's stores was closed in the spring amid
the pandemic, Inderes analyst Petri Kajaani says
    ** The company reported a "noticeable" decrease in fixed
costs after it decided to adjust its operations in March
 urn:newsml:reuters.com:*:nL8N2BI1ML
    ** Strongly reduced expenses amid the cost savings programme
support profitability, Evli analysts say
    ** Marimekko shares rise to 30 euros, their highest level
since March when the lockdown started


($1 = 0.8458 euros)

 ((boleslaw.lasocki@tr.com))