Pandora Meets Sales Forecast for 2019
January 08, 20
(IDEX Online) - Danish jewelry company Pandora has announced that it will meet its sales forecast for 2019. The company said that based on unaudited financial numbers, its fourth-quarter same-store sales are expected to be down 4 percent. For the full year, it expects to see a decline of 8 percent - in line with expectations. Organic growth is expected to be down 1 percent for Q4 and down 8 percent for the full year. Pandora's full-year earnings before interest and taxes (EBIT) margin excluding restructuring costs is expected to be in the upper end of the guided range of 26-27 percent. "The sequential improvement in like-for-like confirms the strategic direction and the effectiveness of Programme NOW to bring Pandora back to sustainable growth with industry-leading margins," the company said in a press release. Looking ahead, Pandora said that as it had previously reported, same-store sales are expected to be negative in 2020 with an EBIT margin excluding restructuring costs lower than in 2019.