**Swedish athletic wear company Bjorn Borg reported a 6% increase in net sales for the first half (H1) of the fiscal year 2023 (FY23).**.
**Key Financial Highlights:**.
* Net sales amounted to SEK 524.7 million (approximately $49.7 million) for H1 FY23, compared to SEK 494.1 million ($45.8 million) in H1 FY22..
* Gross profit increased to SEK 271.8 million ($25.4 million) from SEK 256.4 million ($23.7 million) in the corresponding period last year..
* Operating profit rose by 10.4% to SEK 80.6 million ($7.6 million) in H1 FY23 from SEK 73.0 million ($6.8 million) in H1 FY22..
* The company’s order intake for the first six months of FY23 totaled SEK 419.8 million ($39.2 million)..
**Performance Drivers:**.
Bjorn Borg attributed the growth in net sales to strong demand for its products, particularly in the core Nordic markets. The company’s focus on expanding its digital presence and omnichannel strategy also contributed to the positive results..
**Regional Performance:**.
* Sales in the Nordic region, which accounts for approximately 70% of the company’s total revenue, grew by 5%..
* Sales in Germany, the second-largest market for Bjorn Borg, increased by 12%..
* Other markets, including the Netherlands, Belgium, and France, also showed positive growth..
**Category Performance:**.
* Underwear sales accounted for the majority of the company’s revenue, with a 7% increase in H1 FY23..
* Sales of sportswear and accessories also contributed to the overall growth..
**Strategic Initiatives:**.
Bjorn Borg highlighted several strategic initiatives that supported its performance:.
* Continued expansion of its digital channels, including e-commerce and social media..
* Investment in sustainable practices and materials..
* Focus on product innovation and new product launches..
* Strengthening its presence in existing markets and exploring new market opportunities..
**Outlook:**.
Bjorn Borg expressed optimism about the future and expects continued growth in the upcoming quarters. The company remains committed to its long-term strategy and plans to further strengthen its position in the athletic wear market..
