Swedish sportswear company Björn Borg AB reported a 6% increase in net sales for the first half of its fiscal year 2023, reaching SEK 392.6 million (approximately €37.2 million). This growth was primarily driven by strong demand for its tennis and activewear collections..
**Key Highlights:**.
* Net sales increased by 6% year-over-year, reaching SEK 392.6 million..
* EBIT (operating profit) declined by 26% to SEK -17.4 million, impacted by higher costs and supply chain disruptions..
* Gross profit margin slightly improved to 56.4% from 56.1% in H1 FY2022..
* Wholesale sales remained steady, while e-commerce sales grew significantly..
* The company opened four new stores, expanding its retail footprint..
In a statement, Björn Borg’s CEO Henrik Bunge attributed the sales增长 to the company’s focus on innovation, sustainability, and strategic partnerships. He expressed optimism about the company’s future prospects, citing the growing demand for sportswear and the increasing popularity of online shopping..
Despite the EBIT decline, the company’s gross profit margin showed a slight improvement, indicating efficient cost management. Wholesale sales remained stable, while e-commerce sales experienced significant growth, reflecting the changing consumer behavior and the company’s robust online presence..
Björn Borg also continued to expand its retail footprint by opening four new stores during the period. This expansion strategy aims to strengthen the brand’s connection with its customers and provide a seamless shopping experience..
Looking ahead, Björn Borg remains focused on its long-term growth strategy, which includes product innovation, sustainable practices, and a strong omnichannel approach. The company is optimistic about the future and expects to continue delivering positive results in the coming quarters..
