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Björn Borg Q2 net sales increase 2 percent

By FashionUnited

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REPORT_ The Björn Borg Group’s in an interim report said that

its net sales for the second quarter increased by 2 percent to 107.8 million Swedish Krona (16.5 million dollars). Excluding currency effects, sales increased by 5 percent. The gross profit margin was 50.1 percent compared to 52.1 percent last year. For the first half, group’s net sales decreased by 3 percent to 239.2 million Swedish Krona (36.7 million dollars).

Operating profit for the second quarter amounted to 0.9 million Swedish Krona (0.1 million dollars), whereas earnings per share before and after dilution amounted to 0.23 Swedish Krona (0.04 dollars). For the first half, the gross profit margin was 49.7 percent and operating profit amounted to 10.1 million Swedish Krona (1.5 million dollars). Earnings per share before and after dilution amounted to 0.52 Swedish Krona (0.08 dollars).

“We increased our sales during the quarter and noted positive development in our retail operations, both in Björn Borg stores and our e-commerce. The recently acquired operations in Finland contributed positively to the group’s results, which at the same time were affected negatively by a retail climate in the Netherlands that remains weak. Regarding China, we are still evaluating various alternatives, where a discontinuation of operations in 2013 may be one possible outcome,” said CEO Arthur Engel commenting on the results.
Bjorn Borg