Marimekko posts wider-than-expected first quarter losses

Finnish clothing and home furnishings retailer Marimekko reported a wider first-quarter loss due to a costly expansion in the United States and weaker sales in Finland.

Its quarterly operating loss grew to 1.3 million euros compared to 0.9 million euros a year earlier. Sales grew 10 percent from a year earlier to 20.7 million euros, but the number of stores was up 19 percent at 108 shops.