- Prachi Singh |
For the period between July 1 to September 30, 2020, Björn Borg AB said, the group’s net sales decreased 2.5 percent to 224.9 million Swedish krona compared to 230.6 million Swedish krona for the same period in the previous year. Excluding currency effects, the company said, sales decreased 0.1 percent. Net sales for company-owned e-commerce increased 13 percent to 20.7 million Swedish krona, while net sales for company-owned e-commerce and e-tailers amounted to 67.8 million Swedish krona, an increase of 17 percent.
“Our biggest victory is that we maintain our market leadership in underwear for men, at the same time our sportswear collection has been well received during the quarter and sales increased by 43 percent on our own e-commerce compared with the previous year. In addition, we see an increased profitability for the sportswear category, which is planned and very gratifying,” said Björn Borg CEO Henrik Bunge in a statement.
Highlights of Björn Borg’s Q3 and nine-month results
The company added that the gross profit margin was 50.4 percent, operating profit amounted to 33.4 million Swedish krona, profit after tax amounted to 25.8 million Swedish krona, while earnings per share before and after dilution amounted to 1.02 Swedish krona compared to 1.07 Swedish krona.
For the period from January 1 to September 30, 2020, the group’s net sales decreased 2.8 percent to 544.8 million Swedish krona, while excluding currency effects, sales decreased 2.6 percent. The company further said that net sales for company-owned e-commerce increased 33 percent to 58.5 million Swedish krona and net sales for company-owned e-commerce and e-tailers amounted to 170.7 million Swedish krona, an increase of 19 percent.
The company’s gross profit margin for nine months was 51.2 percent, operating profit amounted to 27.2 million Swedish krona, profit after tax amounted to 17.6 million Swedish krona and earnings per share before and after dilution amounted to 0.70 Swedish krona compared to 1.66 Swedish krona.