Swedish sports brand Björn Borg has reported net sales of 412.5 million Swedish krona in the first half of fiscal 2023, marking a 6 per cent increase from SEK 388.2 million in the previous year.
In the first half of the fiscal year 2023, sales for the company’s own e-commerce and e-tailers increased by 16 per cent to SEK 169.3 million, while sales for its own e-commerce platform increased significantly by 36 per cent to SEK 70.9 million.
Additionally, the gross profit margin increased from 51.9 per cent to 53.6 per cent. In currency-neutral terms, operating profit increased by 20 per cent to SEK 41.5 million, or 14 per cent to SEK 39.5 million. According to a press statement from the company, profit after tax increased by 24 per cent to SEK 29.0 million, and profits per share (EPS) before and after dilution increased to SEK 1.15 from SEK 0.93.
The group’s net sales climbed by 3 per cent to SEK 165.6 million during the second quarter of fiscal 2023, but when currency changes are taken into account, they fell by 2 per cent. Sales for Björn Borg’s own e-commerce increased by 39 per cent to SEK 37.5 million, while net sales for e-tailers and its own e-commerce increased by 47 per cent to SEK 76.5 million.
The gross profit margin increased by 2.2 percentage points to 55.6 per cent in the second quarter, or 56.7 per cent currency-neutral. The operational profit increased significantly by 55 per cent, or 50 per cent currency-neutrally, to SEK 8.1 million, from SEK 7.8 million. The profit after tax increased significantly from the same quarter last year, when it was SEK 0.3 million, to SEK 4.2 million.
