Björn Borg Q1 net sales up 17.5 percent, earnings decline
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Björn Borg net sales for the first quarter ending March 31, 2017 increased by 17.5 percent to 185.7 million Swedish krona (20.8 million dollars). Excluding currency effects, the company’s sales increased by 16.5 percent.
“Our biggest victory during the quarter was how we activated our brand in the ‘Dear Rival’ campaign. We reached over 3.5 million consumers in Sweden and the Netherlands and raised their awareness of Björn Borg as a sports fashion brand by over 100 percent,” noted CEO Henrik Bunge in a media release.
The gross profit margin was 48.9 percent, and operating profit amounted to 6.7 million Swedish krona (0.75 million dollars) against 13.9 million Swedish krona (1.56 million dollars) in the previous year’s first quarter. Profit after tax amounted to 5 million Swedish krona (0.56 million dollars) against 6.5 million Swedish krona (0.73 million dollars) and earnings per share before and after dilution amounted to 0.18 Swedish krona (0.02 dollar) compared to 0.28 Swedish krona (0.03 dollar) last year.
Picture:Björn Borg website