Björn Borg AB reportedly posted the best first-half operating result in its history, at SEK 58.6 million, up 30.9% year-on-year, according to figures cited by FashionUnited France. The operating margin stood at 11.7%, compared with 8.9% a year earlier, while the gross margin reached 54.8%, against 50.2% in the comparison period.
The group's net sales nonetheless fell 1.4% over the half, to SEK 499.0 million, compared with SEK 505.9 million a year earlier. At constant exchange rates, net sales rose slightly, by 0.2%. Profit after tax for the six-month period, meanwhile, jumped 14.1%, to SEK 45.5 million.
A second quarter marked by the delivery schedule
In the second quarter, net sales fell 12.2%, to SEK 198.4 million, compared with SEK 225.9 million in the same period the previous year. The main factor behind this decline is said to be linked to the wholesale delivery schedule, with summer-season shipments concentrated in the first quarter of 2026 rather than the second, as was the case in 2025.
Despite this decline, the quarterly operating result rose 11%, to SEK 11.8 million, bringing the operating margin to 5.9%, compared with 4.7% a year earlier. The gross margin reached 56.2%, up 5.6 points from 50.6% in the corresponding period. This improvement is said to have been driven by reduced discount levels, favourable currency effects and a higher share of direct sales through the group's own e-commerce. Profit after tax for the quarter jumped 118.3%, to SEK 8.6 million.
E-commerce up, wholesale and stores down
Net sales from direct e-commerce rose 16.5% in the second quarter, to SEK 60.1 million, with sportswear sales online up 28% and lingerie up 19%. Wholesale revenue, however, fell 26%, to SEK 110.2 million, with sales to e-commerce accounts down 35% and physical accounts down 21%. Revenue from the group's own physical stores fell 19%, hurt by store closures; on a like-for-like basis, store sales fell 5%. As of June 30, 2026, the group operated 11 physical stores, compared with 12 a year earlier.
By market, Suède, the group's largest market, saw sales decline 15%, while Germany fell 38% due to weaker demand from e-commerce accounts. Finlande, by contrast, grew 9%.
« Un Björn Borg plus solide et plus rentable »
Henrik Bunge, chief executive of Björn Borg, commented on these results: « C'est le meilleur résultat opérationnel que nous ayons jamais réalisé après un premier semestre, alors que les ventes sont restées globalement stables par rapport à l'année précédente. C'est pour moi la preuve que nous construisons un Björn Borg plus solide et plus rentable. » He also praised the momentum of the direct channel: « Le point fort du trimestre a été la solide performance de notre propre e-commerce, en hausse de 17 %. Notre collection de vêtements a continué d'être le principal moteur de croissance. »
The group reaffirmed its medium-term financial targets: annual sales growth of at least 10%, an operating margin of at least 10%, a dividend payout ratio of at least 50% of net profit and an equity ratio above 35%.
