**Swedish firm Björn Borg’s net sales climbed 6% in H1 FY23**
* Net sales increased to SEK 454.3 million ($43.7 million) in the first half of FY23.
* Gross profit margin decreased to 54.1% from 55.6% in the previous year.
* Operating profit declined by 30.6% to SEK 27.9 million ($2.7 million).
* Björn Borg opened a new store in Stockholm and expanded its presence in the UK.
* The company plans to continue expanding its retail network and invest in e-commerce.
**Financial Performance**
Björn Borg reported a 6% increase in net sales to SEK 454.3 million ($43.7 million) in the first half of FY23. This growth was primarily driven by strong sales in the company’s core markets of Sweden and Norway. However, the gross profit margin decreased to 54.1% from 55.6% in the previous year, due to higher input costs and increased promotional activity. As a result, operating profit declined by 30.6% to SEK 27.9 million ($2.7 million).
**Expansion Plans**
Björn Borg continued to expand its retail network in the first half of FY23, opening a new store in Stockholm and expanding its presence in the UK. The company also plans to continue investing in e-commerce, as it sees this channel as a key growth driver. Björn Borg currently operates 100 stores in 18 countries and has a strong online presence.
**Sustainability Initiatives**
Björn Borg is committed to sustainability and has set a number of ambitious goals. The company aims to reduce its environmental impact by using more sustainable materials, reducing waste, and investing in renewable energy. Björn Borg is also working to improve the working conditions of its employees and suppliers.
**Outlook**
Björn Borg is optimistic about the future and expects to continue growing in the coming years. The company is well-positioned to benefit from the growing demand for athleisure wear and its strong brand recognition. Björn Borg is also investing in new growth initiatives, such as e-commerce and sustainability, which should help drive future growth.
**About Björn Borg**
Björn Borg is a Swedish sportswear company founded in 1984 by the tennis player of the same name. The company designs, manufactures, and markets sportswear, underwear, and accessories. Björn Borg is known for its comfortable, stylish, and high-quality products. The company’s products are sold in over 30 countries worldwide.
Björn Borg is a publicly traded company listed on the Nasdaq Stockholm. The company has a market capitalization of approximately SEK 1.5 billion ($145 million)..
