PANDORA 2015 Net Profits Leap 19%to $550 million
February 09, 16
(IDEX Online News) – Bead and jewelry company PANDORA saw its 2015 net profits leap by 18.6 percent to DKK 3.674 billion ($550 million). Net profits in 2014 were DKK 3.098 billion ($464 million).
The company said that revenue exceeded expectations due to a number of factors, including better operational performance across most markets and favorable exchange rate movements.
Total group revenue in 2015 was $2.5 billion compared to $1.8 billion a year previously, which represents a 28-percent increase.
Trade in the Americas increased 31.8 percent (14.6-percent increase in local currency); in Europe it increased by 42.3 percent (37.1-percent increase in local currency) and increased by 58 percent (45.1-percent increase in local currency) in Asia Pacific.
PANDORA expects to further expand its operations during 2016, having already acquired Norbreeze Group’s store network in Singapore, Macau and the Philippines on January 1. The company plans to add 200-300 concept stores annually in 2016-2018, with around 60 percent of those expected to open in the Europe region.