Pandora Trims 2025 Growth Forecast as Demand Slows
January 13, 26
(IDEX Online) - Pandora, the world's largest jewelry maker, says its organic growth is slowing, largely due to weak consumer sentiment in North America.
It now says it expects to deliver 6 per cent growth for 2025, down slightly on its forecast of 7 to 8 per cent, and less than half of the 13 per cent it recorded in 2024.
The Denmark-based company flagged subdued holiday spending and reduced store traffic in the US as key factors dragging performance, with like-for-like sales there growing just 2 per cent for Q4 2025.
It said overall Q4 organic growth reached about 4 per cent, according to preliminary and unaudited figures, though that was propped up by store network expansion rather than core demand, as global like-for-like sales stayed flat.
Berta de Pablos-Barbier (pictured), who took over from Alexander Lacik as Pandora's president and CEO on 1 January, said: "We delivered 6% organic growth in 2025 despite softer than expected Q4 holiday trading, particularly in North America.
"While the year was marked by macro headwinds, it has also highlighted opportunities to sharpen execution and strengthen brand desirability.
Pandora, which has 6,800 points of sale globally, said revenue for Q4 2025 was DKK 11.9bn (USD 1.85bn), down fractionally from DKK 12bn (USD 1.87bn) year-on-year.
Full-year results will be published on 5 February.