Pandora Q2 Sales Increase, Despite Uncertainties
August 17, 23
(IDEX Online) - Pandora has reported a five per cent growth in Q2 sales, despite ongoing macroeconomic uncertainties.
The Danish jeweler says strong brands and products helped it deliver "robust growth" and it had expanded its network by four per cent.
Revenue for the quarter was $864m (DK 5.894bn). Overall like-for-like growth was two per cent, although it was minus four per cent in the US.
Pandora said it had taken the first steps to relaunch of the brand a month ago. "While still very early days on the journey, Pandora has seen some pick-up in traffic," it said.
The company has increased its forecast for full-year growth guidance "+2% to +5%" (previously -2% to +3%).
Alexander Lacik, Pandora's president and CEO said: "We will continue to push ahead with our strategic initiatives for the second half of 2023 and beyond, including the expansion of our assortment in diamonds and the ongoing roll-out of our new store concept, EVOKE 2.0.
"Given our solid performance so far, our updated guidance now sees another year of positive organic growth".