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Björn Borg AB Q1 profit falls YOY

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Björn Borg AB Q1 profit falls YOY

Björn Borg AB said its normalized net income for the first quarter amounted to 47 Swedish öre per share, a decrease of 6.4% from 50 öre per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was 11.7 million kronor, a decrease of 6.4% from 12.5 million kronor in the year-earlier period.

The normalized profit margin dropped to 8.7% from 8.7% in the year-earlier period.

Total revenue decreased 6.3% year over year to 134.1 million kronor from 143.0 million kronor, and total operating expenses declined year over year to 121.2 million kronor from 124.0 million kronor.

Reported net income declined year over year to 15.5 million kronor, or 61 öre per share, from 15.6 million kronor, or 62 öre per share.

As of May 11, US$1 was equivalent to 8.29 Swedish kronor.