Björn Borg Q3 net sales down 4 percent

REPORT_ For the third quarter period July 1 to September 30, 2013,

Björn Borg net sales decreased by 4 percent. Excluding currency effects, sales decreased by 3 percent. The gross profit margin was 51.7 percent compared to 49.5 percent for the same period last year.

For the nine month period January 1 to September 30, 2013, the group's net sales decreased by 3 percent. Excluding currency effects, sales were down 1 percent. The gross profit margin was 50.5 percent compared to 49.7 percent for the same period last year.

The core business of the Björn Borg group is underwear. It also offers sportswear and fragrances as well as footwear, luggage and bags and eyewear through licensees. Björn Borg products are sold in around thirty markets, of which Sweden and the Netherlands are the largest. “We saw a slight decline in revenue in the third quarter, from lower purchases from the Netherlands,” said Arthur Engel. “Obviously, we are not pleased with this weak performance, but at the same time there are factors that suggest opportunities for greater stability going forward. For example, our retail sales rose by 11 percent during the quarter for comparable units.” Arthur Engel is stepping down as CEO of Björn Borg. Vice President Henrik Fischer is taking over as acting CEO.