Björn Borg Q2 net sales drop but online sales improve

From the period between April 1 to June 30, 2022, Björn Borg Group’s net sales amounted to 161.5 million Swedish krona, a decrease of 0.8 percent.

“We see strong growth in our own e-commerce that increased by 18 percent in the quarter and a gross profit margin at currency neutral rate grew strongly,” commented Björn Borg CEO Henrik Bunge.

Björn Borg ecommerce sales increase 18 percent

The company said in a release that net sales for its own ecommerce and e-tailers amounted to 51.6 million Swedish krona, a decrease of 15.9 percent, while net sales for company-owned ecommerce increased 18 percent to 27 million Swedish krona.

Gross profit margin was 54.5 percent compared to 56.3, while currency neutral gross profit margin was 59.6 percent, an increase of 3.3 percentage points. Operating profit amounted to 5.2 million Swedish krona compared to 19.3 million Swedish krona.

Profit after tax amounted to 0.3 million Swedish krona compared to 13.5 million Swedish krona, while earnings per share before and after dilution amounted to 0.01 Swedish krona versus 0.54 Swedish krona last year.

Björn Borg’s H1 net sales increase

For the period between January 1 and June 30, 2022, Björn Borg Group’s net sales amounted to 388.2 million Swedish krona, an increase of 11.7 percent.

Net sales for company-owned ecommerce and e-tailers amounted to 143.7 million Swedish krona, an increase of 8.3 percent and net sales for company-owned ecommerce increased 11 percent to 52.2 million Swedish krona.

Gross profit margin was 51.9 percent compared to 54.7 percent, while currency neutral gross profit margin was 55.6 percent, an increase of 0.9 percentage points.

Operating profit amounted to 34.5 million Swedish krona, a decrease of 17.3 percent. Profit after tax amounted to 23.4 million Swedish krona compared to 34.9 million Swedish krona, while earnings per share before and after dilution amounted to 0.93 Swedish krona versus 1.39 Swedish krona.