Björn Borg tested by Q2 challenges
Swedish sportswear and intimate apparel brand Björn Borg has announced that its net sales decreased by 0.8% year on year during the second quarter (Q2) of fiscal 2022, which ran from April 1 through June 30.
Net sales did, however, rise by 11.7% on the year previous when considered in light of the wider six-month period (January 1 to June 30).
The business made roughly $15.3 million or 161.5 million Swedish krona over Q2, versus around $36.8 million (388.2 million Swedish krona) in the first half.
Sales of underwear dropped by 11% during the second quarter, although sports apparel grew by 9%, followed by bags (up 7%). Notably, year-on-year footwear sales increased by 125% in Q2, which company chief executive, Henrik Bunge, mainly attributed to distribution timings.
Mr Bunge cited the impact of more expensive raw materials, higher freight costs, rising inflation, unfavourable exchange rates and declining consumer sentiment as reason for the brand’s slight overall decline in the second quarter, which he called “full of challenges”.
The executive did observe, however, “a continued strong underlying trend regarding health, training and well-being”, which he suggested boded well for future sales.
Image: Björn Borg.
