Bjorn Borg, the renowned Swedish sports brand, has disclosed a positive financial outlook with a 6% surge in net sales for the first half of fiscal year 2023. The company achieved net sales of 412.5 million Swedish krona (approximately $37.79 million), up from 388.2 million krona in the previous year. Accounting for currency fluctuations, the net sales increase amounts to 2%.

Notably, Bjorn Borg experienced a significant boost in sales through its own e-commerce and e-tailers, reaching 169.3 million krona during the first half of the year, marking a substantial 16% growth. The company’s own e-commerce platform played a pivotal role in driving this growth, witnessing an impressive sales surge of 36% to 70.9 million krona. Additionally, Bjorn Borg achieved a commendable improvement in its gross profit margin, escalating to 53.6% in comparison to the previous year’s 51.9%. Moving further, the operating profit witnessed a remarkable 14% increase, amounting to 39.5 million krona, or 20% currency-neutral, reaching 41.5 million krona. Profit after tax also observed a notable surge of 24% to 29.0 million krona, while earnings per share before and after dilution rose to 1.15 krona from 0.93 krona.

In the second quarter of fiscal 2023, Bjorn Borg continued its positive trajectory with a 3% growth in net sales, amounting to 165.6 million krona. However, when considering currency fluctuations, there was a decrease of 2%. The company’s own e-commerce and e-tailers business segment performed exceptionally well during this period, recording a remarkable 47% increase in sales to 76.5 million krona. Bjorn Borg’s own e-commerce platform spearheaded this growth with an impressive 39% sales jump, amounting to 37.5 million krona. Moreover, the gross profit margin for the quarter reached 55.6%, or 56.7% currency-neutral, witnessing a notable increase of 2.2 percentage points. The operating profit also observed a substantial increase of 55% to 8.1 million krona, or 50% currency-neutral, reaching 7.8 million krona. Furthermore, profit after tax stood at 4.2 million krona, marking a significant rise from 0.3 million krona in the corresponding quarter of the previous year. The earnings per share before and after dilution amounted to 0.17 krona as opposed to 0.01 krona.

CEO Henrik Bunge expressed immense pride in Bjorn Borg’s sports collection and particularly highlighted the extraordinary growth achieved through the company’s own e-commerce platform. The second quarter witnessed an astounding 98% increase in sales, while the entire first half of the year displayed a phenomenal 100% growth rate.

(Relevant links:
Bjorn Borg Official Website
Bjorn Borg Institutional Holdings)