- Prachi Singh |
For the first quarter to March 31, 2018, Björn Borg AB said that the company’s net sales fell 8.9 percent to 169.2 million Swedish krona (19.3 million dollars) compared to 185.7 million Swedish krona (21.2 million dollars), same quarter last year. Excluding currency effects sales fell 10.6 percent.
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“The quarter’s biggest victory is that we ranked number 4 in our last consumer survey in Sweden among sports apparel brands, where the first three companies had a global turnover of nearly 600 billion Swedish krona in 2017. Our journey has just begun,” noted the company’s CEO Henrik Bunge in a statement.
The gross profit margin for the quarter was 57.1 percent compared to 48.9 percent last year, while operating profit amounted to 15.1 million Swedish krona (1.7 million dollars) compared to 6.7 million Swedish krona (0.7 million dollars). Profit after tax amounted to 14.9 million Swedish krona (1.7 million dollars) against 5 million Swedish krona (0.5 million dollars) last year, while earnings per share before and after dilution amounted to 0.60 Swedish krona (0.069 dollar) compared to 0.18 Swedish krona last year (0.021 dollar).