Swedish clothing brand Björn Borg Group's e-commerce net sales increased by 46% to SEK 45.5 million in the fourth quarter and by 36% to SEK 154 million for the full year. .
Nevertheless, the company's net sales for the quarter decreased by 0.4% to SEK 197.6 million, currency neutral. The Group's net sales increased by 4% or 1% on a currency-neutral basis over the year to total SEK 872.3 million.
“The highlights of the last quarter of the year were undoubtedly the strong development of our own e-commerce, which grew by 46%, and the significant improvement in operating profit, which increased by 160%.” Bjorn Borg Chief Executive Officer (CEO) Henrik Bunge said:
Own retailer and e-commerce sales increased by 20% to SEK 92.8 million in the fourth quarter. Gross profit margin for the quarter increased by 4.1 percentage points to 56.8%, and foreign exchange gross profit margin was 56.2%. Operating profit for the same quarter amounted to SEK 20.2 million, an increase of 160%. Currency-neutral operating profit increased by 16% to SEK 17.6 million.
Earnings per diluted share increased to SEK 0.59 and profit after tax increased by 183% to SEK 15 million.
Björn Borg's sales to its own e-commerce and e-retailers amounted to SEK 358.2 million, an increase of 16%. The company's full-year profit after tax increased by 49% to SEK 76 million.
