Pandora Cautious after a Record 2022
February 14, 23
(IDEX Online) - Pandora, the world's biggest jewelry brand, reported record full-year sales of $3.82bn, representing seven per cent growth.
The Danish charm maker, with over 6,500 outlets in 100 countries, said it was confident it could adapt to the uncertain environment and drive strategic priorities, although it forecast slower organic growth for the coming year.
Last year's guidance was 4 to 6 per cent, against actual growth of 7 per cent. Guidance for the coming year is -3 per cent to +3 per cent.
Alexander Lacik, Pandora's president and CEO of Pandora, said: "We ended 2022 on a high note. Despite the macroeconomic pressure on consumers and COVID-19 headwinds in China, we continue to deliver solid growth vs. pre-pandemic levels."
"We have started 2023 well, and are confident that the transformation of the brand over the past few years puts Pandora in a good position to manage adversity and emerge stronger."
Pandora announced last December that it was moving its headquarters from Baltimore to New York City, in a bid to double it's annual $1bn revenue in North America.