Björn Borg net sales improve 11.2 percent

business

Björn Borg net sales improve 11.2 percent

business newsMay 15, 2019by Prachi Singh

For the period from January 1 to March 31, 2019, Björn Borg AB recorded net sales increase of 11.2 percent to 188.2 million Swedish krona (19.5 million dollars). Excluding currency effects, the company said, sales increased 7.1 percent.

“We have never generated more revenue in the year’s first quarter and I am especially pleased with how well our sports fashion collection has been received, where we for example grew our own e-commerce by more than 100 percent, driven by both women and men,” said Björn Borg CEO Henrik Bunge in a statement.

The company added that net sales for its own e-commerce and e-tailers amounted to 53 million Swedish krona (5.5 million dollars), an increase of 48.9 percent.

The gross profit margin was 56.8 percent compared to 57.1 percent last year. The company further sais that operating profit amounted to 18.5 million Swedish krona (1.9 million dollars) compared to 15.1 million Swedish krona a year earlier. Profit after tax amounted to 16.9 million Swedish krona (1.7 million dollars) compared to 14.9 million Swedish krona, while earnings per share before and after dilution amounted to 0.67 Swedish krona against 0.60 Swedish krona, same period last year.

Picture:Facebook/Björn Borg