Björn Borg Q4 sales decrease 18.4 percent

For the fourth quarter, the Björn Borg Group’s net sales decreased 18.4 percent to 160.4 million Swedish krona and excluding currency effects, sales decreased 15 percent. The company said, net sales for own e-commerce increased 53 percent to 24.9 million Swedish krona, while net sales for company-owned e-commerce and e-tailers amounted to 56.1 million Swedish krona, an increase of 9 percent. The company’s earnings per share before and after dilution amounted to 0.05 Swedish krona compared to negative 0.11 Swedish krona.

“Our own e-commerce continues to perform well and grew by 53 percent to 24.9 million Swedish krona. Our increased focus on e-tailers has not changed and together with our own e-commerce now accounts for more than one third of our digital sales”, commented Björn Borg CEO Henrik Bunge in a statement.

The gross profit margin for the quarter was 56.6 percent, operating profit amounted to 6.5 million Swedish krona compared to 1.4 Swedish krona and profit after tax amounted to 1.3 million Swedish krona compared to negative 2.7 million Swedish krona.

For the full year, the group’s net sales decreased 6.8 percent to 705.2 million Swedish krona, while excluding currency effects, sales decreased 5.8 percent. Net sales for own e-commerce increased 38 percent to 83.3 million Swedish krona and net sales for company-owned e-commerce and e-tailers amounted to 227.8 million Swedish krona, an increase of 17 percent.

The company added that gross profit margin for the year was 52.5 percent compared to 53.7 percent, operating profit amounted to 33.7 million Swedish krona compared to 51.4 million Swedish krona, profit after tax amounted to 18.8 million Swedish krona compared to 38.9 million Swedish krona and earnings per share before and after dilution amounted to 0.75 Swedish krona compared to 1.55 Swedish krona.

The company’s board of directors has decided to propose to the annual general meeting a distribution of 1.50 Swedish krona per share, totalling 37.7 million Swedish krona.

Picture:Björn Borg image bank