Home / Knowledge / News / Apparel/Garments / Sportswear retailer Bjorn Borg Q3 sales fall 4%
Sportswear retailer Bjorn Borg Q3 sales fall 4%
11
Nov '13
Bjorn Borg AB announces results for the third quarter ending September 30, 2013 and for nine months period beginning January to September 2013.

JULY 1 – SEPTEMBER 30, 2013

- The Group’s net sales decreased by 4 percent to SEK 159.8 million (166.8). Excluding currency effects, sales decreased by 3 percent.
- The gross profit margin was 51.7 percent (49.5).
- Operating profit amounted to SEK 23.6 million (35.2).
- Profit after tax amounted to SEK 15.5 million (25.1).
- Earnings per share before and after dilution amounted to SEK 0.74 (1.11).
- During the quarter the Board of Directors decided to discontinue the operations in China in 2013.
- The Dutch distributor sought in September to reconstruct its retail operations.

At the end of the quarter CEO Arthur Engel announced he is leaving the company. Vice President Henrik Fischer is taking over as Acting CEO from 11 November.

JANUARY 1 – SEPTEMBER 30, 2013

- The Group’s net sales decreased by 3 percent to SEK 399.0 million (412.8). Excluding currency effects, sales were down 1 percent.
- The gross profit margin was 50.5 percent (49.7).
- Operating profit amounted to SEK 33.7 million (54.7).
- Profit after tax amounted to SEK 24.9 million (35.3).
- Earnings per share before and after dilution amounted to SEK 1.26 (1.65).

QUOTE FROM THE CEO

“We saw a slight decline in revenue in the third quarter, from lower purchases from the Netherlands. The drop in earnings comes from the deterioration in sales to the Netherlands as well as costs for marketing activities and for the operations in China, which we are now in the process of winding down.

"Obviously, we are not pleased with this weak performance, but at the same time there are factors that suggest opportunities for greater stability going forward. For example, our retail sales rose by 11 percent during the quarter for comparable units,” said Arthur Engel, who is stepping down from his position as CEO of Björn Borg in connection with this report. Vice President Henrik Fischer is taking over as Acting CEO.

The Björn Borg

The Group owns the Björn Borg trademark and its core business is underwear. It also offers sportswear and fragrances as well as footwear, luggage & bags and eyewear through licensees. Björn Borg products are sold in around thirty markets, of which Sweden and the Netherlands are the largest. The Björn Borg Group has operations at every level from branding to consumer sales in its own Björn Borg stores.

Click here to read full results

Bjorn Borg


Must ReadView All

Textiles | On 22nd Jul 2017

Govt constitutes GST Feedback and Action Room

The Government of India has constituted a Feedback and Action Room...

Textiles | On 22nd Jul 2017

India’s cotton textile exports fell in FY17: Tamta

The overall export of cotton textiles from India declined in 2016-17...

Textiles | On 22nd Jul 2017

Stella McCartney, Bolt Threads partner for eco fashion

Fashion designer Stella McCartney has partnered with Bolt Threads for ...

Interviews View All

Md Hanifur Rahman
Aman Group

The level of understanding the job role and organisational requirements...

DK Sharma
Velocity Apparelz

We constantly communicate with employees at all levels

C Kamatchisundaram
Voltas

ITME is an occasion not only to receive new leads but also to work on...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Thanks for your valuable feedback. Claim your free latest sustainability e-book.


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X