Steady Growth as Pandora Becomes Full Jewelry Brand
August 20, 25
(IDEX Online) - Pandora reported another quarter of solid revenue growth despite what it said were "turbulent times", as it expands from charm bracelets (over 70 per cent of its revenue) to a full jewelry brand.
The Danish jewelry manufacturer and retailer, with over 6,700 points of sale, said it was investing in brand, design, markets and personalization through its Phoenix strategy to reposition itself.
It said growth and margins were solid despite the increasingly turbulent macroeconomic backdrop as well as headwind from foreign exchange, tariffs and commodity prices.
Organic growth in the three months to 30 June was 8 per cent, a slight increase from 7 per cent the previous quarter.
Pandora forecasts similar organic growth, of 7 to 8 per cent, for the full year.
Like for like sales were up 3 per cent overall - higher in the US (8 per cent) and lower (1 per cent) in Europe.
"In these turbulent times, we are satisfied with yet another quarter of high single-digit organic growth and strong profitability," said Alexander Lacik, Pandora's president and CEO in Financial Highlights, published on 15 August.
"The results show that our brand and unique storytelling proposition continue to attract more consumers."
Pic courtesy Pandora.