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Björn Borg Q2 net sales rise 4.2 percent

By Prachi Singh

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Business

For the period between April 1 to June 30, 2018, Björn Borg AB said that the Group’s net sales increased 4.1 percent to 140.3 million Swedish krona (15.2 million dollars) and excluding currency effects sales rose 1.2 percent. Net sales for the company’s own ecommerce and e-tailers increased 23 percent. Gross profit margin for the period was 59.9 percent compared to 52.1 percent last year, while operating profit amounted to 2.9 million Swedish krona (0.3 million dollars). Profit after tax amounted to 1.5 million Swedish krona (0.1 million dollars) and EPS before and after dilution amounted to 0.06 Swedish krona.

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“In the second quarter we again saw that anything is possible. Our Swedish stores increased their revenues by 15 percent compared with the previous year. It had been some time since we had such strong growth for comparable stores. We also set a new record: Our gross margin has never been higher at nearly 60 percent,” said the company’s CEO Henrik Bunge in a statement.

For the period from January 1to June 30, 2018, the Group’s net sales fell 3.4 percent to 309.5 million Swedish krona (33.6 million dollars) and excluding currency effects sales fell 5.6 percent. Net sales for company-owned e-com and e-tailers however increased 26 percent.

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The gross profit margin was 58.3 percent compared to 50.3 percent last year, while operating profit amounted to 18 million Swedish krona (1.9 million dollars) compared to 6.5 million Swedish krona last year. Profit after tax amounted to 16.3 million Swedish krona (1.7 million dollars) and EPS before and after dilution amounted to 0.66 Swedish krona (0.07 dollar).

Picture:Björn Borg image bank

Bjorn Borg
MULTIMEDIA