Marimekko profit down on weak markets and expansion costs

HELSINKI, Finland - Finnish clothing and home furnishings retailer Marimekko reported an 11 percent fall in quarterly operating profit due to weak sales in the Nordics and costly expansion in United States.

Operating profit for the third quarter was 3.1 million euros ($4.2 million), down from 3.5 million a year earlier.

Marimekko repeated it sees its full-year sales growing by more than 5 percent while the underlying operating profit is set to be flat at best.

The company, known for its colourful prints which decorate many homes in Finland, has lately been expanding in Asian and U.S. markets. ($1 = 0.7392 euros)