Swedish sportswear brand Björn Borg has reported a 6% increase in net sales for the first half of its fiscal year 2023, reaching SEK 286.3 million ($26.9 million)..
The company’s e-commerce sales grew by 20%, driven by strong demand for its core categories, including underwear, sportswear, and swimwear. Björn Borg also saw growth in its wholesale business, with sales increasing by 3%..
Gross profit for the period came in at SEK 132.7 million ($12.5 million), representing a 12% increase compared to the same period last year. The company attributed this growth to improved product margins and cost control measures..
Björn Borg’s operating profit amounted to SEK 23.2 million ($2.2 million), a 36% increase from the previous year. This improvement was primarily driven by higher gross profit and lower operating expenses..
The company’s net income for the first half of fiscal 23 reached SEK 17.3 million ($1.6 million), a rise of 40% compared to the same period last year..
Björn Borg’s CEO, Henrik Bunge, commented on the results, saying: .
