Total net sales from the Swedish Björn Borg Group increased 22.7 percent to 226.6 million Swedish kronor compared to SEK 184.7 in the corresponding quarter last year. Operating profit was SEK 29.3 million (€2.79m), up 30.8 percent from last year’s SEK 22.4 million. Gross profit margin decreased slightly to 50.0 percent in the quarter from 53.3 percent last year, while costs increased.
“2022 began very strongly with 22.7 percent growth compared with the previous year, and I can see that our momentum from 2021 has continued into 2022,” commented CEO Henrik Bunge. According to the company, the main growth markets were Sweden and the Netherlands.
Digital growth from own e-commerce and external e-commerce sales slowed slightly and increased by almost 7 percent to SEK 91.2 million (€8.69m). Björn Borg’s brand stores, with five fewer than last year now at a total of 23 doors, increased their sales by 44 percent year-on-year. Total DTC increased by 17 percent year-on-year.
The group’s sports segment accounted for 20 percent of sales in Q1, up 2 percentage points from last year’s same quarter. The underwear segment continued to account for the largest share of sales at 51 percent.
For the past fiscal year, from April 2021 to March 2022, the company reports sales of SEK 810.1 million (€77.2m).
The Björn Borg Group, headquartered in Solna, Sweden, owns the Björn Borg brand, which offers underwear, sportswear and bags as its core segments and footwear and eyewear through licensees. Björn Borg products are sold in approximately twenty markets. The Björn Borg share has been listed on Nasdaq Stockholm since 2007.
