Fiskars Corporation’s overall net sales dipped in the second quarter, as the company pointed to headwinds in the U.S. market.
Fiskars Corporation reported that its overall net sales for second quarter of 2017 decreased by 1.2% to approximately $342.1 million, while its comparable net sales increased by .6%. Comparable EBITA increased by 7% to approximately $26.42 million while its EBITA increased to approximately $25.13 million.
“Fiskars Group had a good first half of 2017, with comparable net sales and comparable EBITA growing clearly. Despite the tough market conditions in some of our key markets, we have grown our business and taken market share with several of our brands, including Fiskars, Iittala, Royal Copenhagen, Royal Doulton, Rörstrand, and Arabia. After the strong first quarter, we continued to grow our comparable net sales and comparable EBITA during the second quarter of 2017,” said Teemu Kangas-Kärki, interim president and CEO, Fiskars.
For the Americas segment, he noted that Fiskars’ comparable net sales grew in the Functional business during the first half of the year, whereas comparable net sales in the entire Americas region was adversely affected by two factors, with premium sales channels continuing to face headwinds and an unfavorable market for outdoor knives.
“We do not expect the conditions in the premium sales channels for the living products in the U.S. to improve in the short term. Therefore, we continued to invest in brand development in the English & Crystal Living business, supporting future growth opportunities. We are focused on developing our omnichannel approach across the businesses to succeed in the changing business environment,” he added.
“Fiskars operates globally with a considerable part of the business in the U.S. The U.S. dollar has weakened during the first half of the year, and should the weakening continue, the translation exposure may have a material impact on our reported financial figures. We continue to focus on driving profitable growth and strengthen our capabilities to progress in all the markets where we operate. We are determined to grow our core businesses, build iconic lifestyle brands, and create high quality consumer experiences,” said Kangas-Kärki.