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

ITC, ICS tie up to help Moroccan textile value chain

Textiles | On 21st Apr 2018

ITC, ICS tie up to help Moroccan textile value chain

The International Trade Centre (ITC) has partnered with ICS, which...

Bangladesh garment manufacturers call for fair pricing

Apparel/Garments | On 21st Apr 2018

Bangladesh garment manufacturers call for fair pricing

Bangladesh garment manufacturers want a ‘commensurate adjustment’ by...

Pak ministry proposes extension to PM package for 2018-19

Textiles | On 21st Apr 2018

Pak ministry proposes extension to PM package for 2018-19

Pakistani textile ministry has reportedly proposed extending the...

Interviews View All

Top executives
Textile industry

The foremost issue is bridging the skill gap

Darshan Mehta
Infinium Polychem

We are spending double digit figures on R&D

Top executives
Textile industry

Knowledge sharing platform needed for sustainable water management

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

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

Leave your Comments


April 2018

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

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.9%
No
12.6%
Skip
17.5%

Total Votes: 103

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

Yes No

Active Poll

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

Yes
63.1%
No
29.1%
Skip
7.8%

Total Votes: 103

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

Yes No

Active Poll

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

Yes
87.4%
No
8.7%
Skip
3.9%

Total Votes: 103

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

Active Poll

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

Yes
82.5%
No
7.8%
Skip
9.7%

Total Votes: 103


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