Covid-19: Björn Borg anticipates drop in revenue and profit for the forthcoming quarters

Björn Borg AB estimates that the outbreak of the Corona virus will have substantial negative financial impact on the Björn Borg Group’s business. The company said in a statement that the extent of such impact is difficult to assess, but it continues to see negative financial effects of the outbreak and therefore estimates that both the turnover and the operating profit, partly during the first quarter, but mainly during the second and third quarters in 2020, will be less than the corresponding periods during 2019.

Björn Borg added that though it maintains the long-term financial objectives but assess that they will not be possible to meet for 2020. The company continues to take extensive measures to minimize the negative effects of the outbreak, including the previously announced short-term layoffs and the withdrawal of the proposal for dividend to shareholders. The company further said that Björn Borg has, despite the strained situation, a good financial position with satisfactory liquidity.