Björn Borg’s sales and earnings increase in the second quarter

Björn Borg’s net sales for the second quarter came to 213.2 million Swedish krona, a 28.7 per cent increase with a 28.3 per cent currency-neutral increase. The company’s profit after tax increased to 6.5 million Swedish krona, a 55.7 per cent gain.

Commenting on the trading update, Björn Borg CEO Henrik Bunge said in a statement, “As the quarter’s absolute victory, we can state that the footwear product group grew by a whopping 199 per cent.”

Net sales for e-commerce owned by Björn Borg climbed by 8.9 per cent to 40.8 million Swedish krona, according to the firm. Net sales for e-commerce owned by the company and e-tailers totalled 87.9 million Swedish krona, a 14.5 per cent gain.

In terms of currency neutrality, the gross profit margin decreased by 3.3 per centage points to 52.3 per cent from 51.8 per cent.

Operating profit climbed by 17.5 per cent to 9.5 million Swedish krona during the quarter; operating profit increased by 27.5 per cent to 10.3 million Swedish krona when currency was neutral.