Björn Borg shares up as Q2 growth exceeds expectations

Bjorn Borg AB

16/08/2024 10:31

** Shares in Sweden's Björn Borg  BORG.ST  rise 4.5% after
the clothing brand posted a bigger than expected increase in Q2
sales 
    ** It reports a 28.3% rise in Q2 net sales on a currency
neutral basis to SEK 213.2 million ($20.29 million)
    ** Inderes analyst Lucas Mattsson says the quarterly growth
exceeded market expectations, as deliveries of delayed product
shipments significantly contributed to overall growth
    ** Moreover, a highlight from the report is the successful
integration of the footwear category, Mattsson says
    ** "We are encouraged by the strong growth in sportswear
during the quarter, which we consider one of the key drivers for
future expansion," he adds
    ** The stock is on track for its best day since late May if
gains hold

($1 = 10.5102 Swedish crowns)

 (Reporting by Agata Rybska)
 ((gdansk.newsroom@thomsonreuters.com;))