Björn Borg records sales and profit growth in the third quarter
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For the third quarter, Björn Borg reported net sales of 285.1 million Swedish krona, an increase of 8.8 percent, while the company’s currency-neutral net sales increased by 10.4 percent.
“Our chosen growth market, Germany, continued to develop very positively. During the quarter, we increased our presence with growth of 44 percent,”said Björn Borg CEO Henrik Bunge in a statement.
Björn Borg posts Q3 earnings growth
Net sales for the company’s own e-commerce increased by 31.5 percent to 49.4 million Swedish krona, while sales for own e-commerce and e-tailers amounted to 119.7 million Swedish krona, an increase of 25.1 percent.
Gross profit margin for the quarter amounted to 52.1 percent and currency-neutral gross profit margin amounted to 51.2 percent, a decrease of 1.4 percentage points.
Operating profit reached 42 million Swedish krona, an increase of 2.8 percent. Currency neutral, operating profit amounted to 41.1 million Swedish krona, an increase of 0.5 percent.
Profit after tax for the period of 35 million Swedish krona increased by 9.1 percent, while earnings per share before and after dilution rose to 1.39 Swedish krona.
Björn Borg’s nine month period net sales increase by 11.9 percent
Björn Borg Group net sales amounted to 755.1 million Swedish krona for the nine months, an increase of 11.9 percent. Currency-neutral, net sales increased by 12.3 percent.
Net sales for the company’s own e-commerce increased by 20.6 percent to 130.8 million Swedish krona, while sales for company-owned e-commerce and e-tailers amounted to 314.8 million Swedish krona, an increase of 18.6 percent.
Gross profit margin for the period under review amounted to 52.4 percent, while currency-neutral gross profit margin amounted to 52.1 percent, a decrease of 1.1 percentage points.
Operating profit amounted to 85 million Swedish krona, an increase of 5.8 percent and currency neutral operating profit amounted to 84.1 million Swedish krona, an increase of 4.6 percent.
Profit after tax reached 62.7 million Swedish krona, an increase of 2.7 percent and earnings per share before and after dilution rose to 2.49 Swedish krona.