Pandora's Q4 Results to Exceed Expectations
December 30, 20
(IDEX Online) - Pandora said today that its Q4 results are likely to be better than predicted when they are announced in early February.
Consumer spending on travel has been curtailed by Covid restrictions, it says, freeing up more money to spend on gifts and feel-good purchases.
December revenue beat expectations and underlying performance remained "solid," said the Denmark-based jewelry chain, which markets charm bracelets and other jewelry items at 7,100 outlets worldwide.
"The organic growth for 2020 is now expected to be at least 1 percentage point better than the high end of the guidance range of '-14% to -17%'," it said.
"The EBIT-margin is expected to reflect the revenue performance and exceed the top end of the guidance range of '17.5% - 19.0%'."
In October Pandora updated its financial guidance after re-opening more stores than expected, and reporting surprisingly brisk trade despite the pandemic. It said online sales had rocketed by 89 per cent.