**Björn Borg’s Net Sales Grow 6% in H1 FY23**
Swedish fashion and sportswear retailer Björn Borg has reported a 6% increase in its net sales for the first half of fiscal year 2023 (H1 FY23), reaching SEK 386.9 million (approximately €34.7 million). The company attributed this growth primarily to strong sales in its home market, Sweden, as well as continued expansion in international markets.
**Key Financial Highlights:**
* Net sales increased by 6% to SEK 386.9 million in H1 FY23, compared to SEK 365.2 million in H1 FY22.
* Gross profit increased slightly by 1% to SEK 213.4 million in H1 FY23, due to higher sales volume partially offset by increased costs.
* Operating expenses rose by 12% to SEK 174.6 million in H1 FY23, primarily driven by investments in marketing and expansion.
* Operating profit declined by 21% to SEK 38.8 million in H1 FY23, reflecting the impact of rising expenses.
* Net income fell by 32% to SEK 22.4 million in H1 FY23, primarily due to lower operating profit.
**Market Performance:**
Björn Borg reported strong sales growth in Sweden, with net sales increasing by 11% in H1 FY23. The company also saw positive performance in its international markets, with net sales rising by 3% in the same period. Notably, the company’s e-commerce channel continued to be a key growth driver, contributing to increased sales in both domestic and international markets.
**Expansion and Innovation:**
During H1 FY23, Björn Borg continued to focus on expanding its international presence and introducing new products. The company opened new stores in Germany and the United Kingdom, and launched new product lines, including a sustainable swimwear collection and a range of activewear for women.
**Outlook:**
Despite the challenging economic environment, Björn Borg remains optimistic about its future growth prospects. The company plans to continue investing in its brand, expand its product portfolio, and strengthen its omnichannel presence. Björn Borg also aims to further penetrate international markets and capitalize on the growing demand for sustainable and ethical fashion.
In summary, Björn Borg’s solid performance in H1 FY23 demonstrates the company’s resilience and growth potential. The company’s strong sales growth, particularly in Sweden and its international markets, coupled with its ongoing expansion and innovation efforts, position it well for continued success in the future..
