Fiskars Corporation, in revealing its interim report for the first quarter of 2017, reported that it had a strong quarter, seeing net sales growth.
Teemu Kangas-Karki, interim president and CEO, Fiskars, noted that tabletop brands Royal Copenhagen, Arabia and Royal Doulton demonstrated double-digit growth.
Fiskars reported a net sales increase for the first quarter of 3.3%, to approximately $333.51 million and comparable net sales increased by 4.8%. The company’s comparable EBITA increased by 28% to $34.86 million and its EBITA increased to $33.66 million.
“The Functional segment net sales grew in all geographies, and both Living and Functional segments delivered solid results, as the comparable EBITA nearly doubled in the Living segment,” said Kangas-Karki. “During the first quarter, we continued to see the benefits of the transformation programs that have been initiated during the past few years. The solid results speak of our ability to create value, generate growth with our strong brands and drive operational efficiencies.”
He continued, “The trade continued to face lower traffic in traditional channels, especially in department stores, as consumers continued to move to online and e-commerce platforms across various categories in the Living business. Building omnichannel capabilities with our trade partners, in own retail and digital channels is a strategic priority and we continue to invest in e-commerce to increase net sales in these channels. Our long-term financial targets, shared earlier this year, outline the ambition level as we determinedly pursue continued profitable growth. The new organization structure with two strategic business units and a global supply chain will help us in increasing cohesion and alignment, both of which we need in order to build global businesses and brands.”
Fiskars’ brands include Fiskars, Gerber, Iittala, Royal Copenhagen, Waterford and Wedgwood.