Björn Borg Group’s third quarter net sales for e-commerce and e-tailers amounted to 82.2 million Swedish krona, a decrease of 4.7 percent, while sales for the company’s own e-commerce increased by 28 percent to 29.5 million Swedish krona.
The company said, operating profit for the quarter amounted to 30.6 million Swedish krona against 52.4 million Swedish krona last year. Currency neutral and adjusted operating profit amounted to 53.2 million Swedish krona, an increase of 1.5 percent.
“Very strong growth for our own ecommerce which increased by 28 percent during the third quarter of the year and adjusted for non-recurring items and currency changes, we have never shown higher profitability in a single quarter,” said the company’s CEO Henrik Bunge in a release.
Highlights of Björn Borg’s third quarter trading
The company's net sales amounted to 248.6 million Swedish krona, an increase of 3.5 percent in the third quarter compared to the same quarter last year.
The gross profit margin amounted to 48.2 percent compared to 54.4 percent, currency-neutral, the gross profit margin amounted to 54.5 percent, an increase of 0.1 percentage points.
Profit after tax amounted to 22.2 million Swedish krona compared to 40.1 million Swedish krona, while earnings per share before and after dilution amounted to 0.88 Swedish krona compared to 1.59 Swedish krona in the third quarter of the previous year.
Björn Borg’s year-to-date net sales increase by 8.4 percent
The company added that the group’s net sales amounted to 636.8 million Swedish krona for the nine month period, an increase of 8.4 percent.
Net sales for its own e-commerce and e-tailers amounted to 226.4 million Swedish krona, a decrease of 3 percent, while sales for the company’s own e-commerce increased by 15 percent to 80.4 million Swedish krona.
The gross profit margin amounted to 50.4 percent compared to 54.6 percent and currency-neutral gross profit margin amounted to 55.1 percent, an increase of 0.5 percentage points.
Operating profit for the period amounted to 65.1 million Swedish krona versus 94.1 million Swedish krona. Currency neutral and adjusted operating profit amounted to 102.9 million Swedish krona, an increase of 9.4 percent.
The company’s profit after tax amounted to 45.6 million versus 75 million Swedish krona and earnings per share before and after dilution amounted to 1.81 Swedish krona compared to 2.98 Swedish krona last year.