Apparel group Bjorn Borg AB Q3 sales rise 2.8% on e-commerce growth

Bjorn Borg AB

Today 06:46

Overview
Sweden apparel and accessories group's Q3 net sales rose 2.8% yr/yr
EPS for Q3 increased to SEK 1.68 from SEK 1.47
Gross margin improved to 54.6% from 52.5% in Q3 last yr

Outlook
Company did not provide specific guidance for future quarters or the full year in its press release

Result Drivers
E-COMMERCE GROWTH - Co said own e-commerce net sales rose 16.1% yr/yr in Q3
HIGHER GROSS MARGIN - Co reported Q3 gross margin improved to 54.6% from 52.5%

Company press release: ID:nMFNbD2gP4

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
Slight Beat*
SEK 308.2 mln
SEK 306 mln (2 Analysts)
Q3 EPS
 
SEK 1.68
 
Q3 Net Income
 
SEK 42.3 mln
 
Q3 Gross Margin
 
54.6%
 
Q3 EBIT
 
SEK 53.2 mln
 
*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage
The one available analyst rating on the shares is "strong buy"
The average consensus recommendation for the apparel & accessories peer group is "buy."
Wall Street's median 12-month price target for Bjorn Borg AB is SEK64.25, about 12.7% above its October 22 closing price of SEK57.00
The stock recently traded at 14 times the next 12-month earnings vs. a P/E of 15 three months ago

Reuters Recommended Reads
Oct 22 - Sweden's Essity slightly misses Q3 net sales estimates
Oct 22 - Sweden's Midsona Q3 net sales rise, gross margin improves
Oct 22 - France's SMCP Q3 sales fall on weak demand

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)