China proves a struggle for Björn Borg
29/08/2013
The Dutch company saw its net sales increase 2% in the second quarter of the year to SEK 107.8 million ($16.4 million), although they were 3% down overall in the first half.
CEO Arthur Engel said: “We increased our sales during the quarter and noted positive development in our retail operations, both in Björn Borg stores and our e-commerce. The recently acquired operations in Finland contributed positively to the Group’s results, which at the same time were affected negatively by a retail climate in the Netherlands that remains weak.”
Björn Borg products are sold in 30 markets, of which Sweden and the Netherlands are the largest.
“Regarding China, we are still evaluating various alternatives, where a discontinuation of operations in 2013 may be one possible outcome,” added Mr Engel.
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