Change in Fiskars full-year outlook: Sales and operating profit to be below 2013 levels
Fiskars Corporation Stock Exchange Release June 3, 2014 at 8.30 EET
Fiskars has updated its full-year outlook as a consequence of market development in Finland. Throughout May, the retail environment in Finland declined further and Fiskars sales in Finland were clearly below expectations. Also, the challenges that affected Fiskars in the first quarter of 2014 have continued: currencies in several markets have had a negative impact on sales, softness in the US business has continued, and some availability issues linger on in Europe.
Fiskars will take determined action to drive up sales and to adjust its cost levels during the rest of the year, but based on its May sales it is unlikely that the company can regain sales lost over the first five months.
Consequently, full year 2014 net sales and operating profit, excluding non-recurring items, are now expected to be below 2013 levels. Previously, Fiskars expected full year net sales to reach 2013 levels and operating profit, excluding non-recurring items, to be at or slightly below 2013 levels.
Fiskars will publish its interim report for January–June 2014 on August 1, 2014 around 8:30 EET
President and CEO
- President and CEO Kari Kauniskangas, tel. +358 204 39 5500
- Communications Director Anu Ilvonen, tel. +358 204 39 5446
Fiskars 365 – celebrating centuries of pride, passion and design. Every day.
Established in 1649 as an ironworks in a small Finnish village, Fiskars has grown to be a leading global supplier of consumer products for the home, garden and outdoors. Available in more than 60 countries, Fiskars products solve everyday problems, making daily home, garden and outdoor projects easier and more enjoyable through their superior performance and design. Fiskars is listed on NASDAQ OMX Helsinki, and in 2013 the company’s net sales were 799 million euro. The group’s key international brands are Fiskars, Iittala and Gerber. www.fiskarsgroup.com/365