PANDORA Q2 2016 Revenue Increases 20%
August 09, 16
(IDEX Online News) – Danish jewelry designer and manufacturer PANDORA saw its second quarter revenue jump 20 percent (25 percent in local currency) to DKK4.327 billion ($645 million) compared to the same quarter in 2015.
Revenue increased across all regions, including 5 percent in the Americas, 28 percent in Europe, Middle East and Africa (EMEA) and 43 percent in Asia Pacific. Revenue from concept stores increased by 39 percent and corresponded to 63 percent of the total revenue.
PANDORA’s net profit for the quarter was DKK1.221 billion ($180 million) compared to DKK910 million ($135.5 million) over the same quarter in the previous year.
In the last 12 months PANDORA has added net 366 concept stores to the global store network, including 68 new stores in the second quarter. The increase includes a net total of 168 new PANDORA owned concept stores, of which 46 have been taken over from distributors.
"Growth in all regions continued into the second quarter. EMEA and Asia Pacific maintained the strong momentum with double digit revenue growth, driven by positive double digit like-for-like growth and continued improvement of the store network,” said PANDORA CEO Anders Colding Friis.
“Americas increased 10 percent in local currency, driven by 2 percent like-for-like growth in the US, a strong performance in the US eSTORE and a continued successful concept store roll-out across the region. All regions were supported by our continued focus on product diversification into rings and earrings."