Pandora Reports Q3 Organic Sales Growth of 9 Percent – WWD

PARIS – Pandora continues its rebound. The Danish jewellery maker logged natural gross sales progress of 9 p.c within the three months to Sept. 30, in contrast with the identical interval in 2019, and up 14 p.c versus 2020, pushed notably by beneficial properties within the U.S. market.

There, the corporate reported sell-out progress of 59 p.c in contrast with the three-month interval in 2019.

Europe additionally noticed a rebound after continued declines within the first six months of the 12 months, with sell-out progress of 11 p.c in contrast with the identical quarter two years in the past. Efficiency in Asia remained weak, nonetheless, and was closely impacted by COVID-19, the corporate mentioned.

General, round 5 p.c of the agency’s retailer community was closed through the quarter.

“We’re more than happy with the sturdy sell-out progress within the third quarter,” acknowledged Alexander Lacik, Pandora’s chief govt officer. “We drove sturdy progress from our core Moments platform.”

The corporate’s e-commerce gross sales jumped by 94 p.c on an natural foundation in contrast with the third quarter of 2019 and a couple of by p.c versus a 12 months in the past, and represented 18 p.c of revenues for the interval.

On a reported foundation, Pandora noticed gross sales progress of 16 p.c in contrast with the third quarter of final 12 months, to 4.73 billion Danish kronor, or $635.7 billion at present change. Its working revenue grew 104.9 p.c to 957 million Danish kronor, or $128.6 million.

Earlier this week, Pandora raised its steering for the 12 months, saying it now expects natural gross sales progress of between 18 and 20 p.c, in contrast with earlier steering of between 16 and 18 p.c, and EBIT margin of between 24 and 24.5 p.c, up from between 23 and 24 p.c.

The corporate, which introduced its new three-year progress plan Phoenix in September, has excessive hopes for its Pandora Me line for youthful shoppers, which relaunched on the finish of September, and confirmed plans to roll out Pandora Brilliance, its assortment of lab-created diamond jewellery that’s presently being examined within the U.Ok., beginning subsequent 12 months. | Pandora Experiences Q3 Natural Gross sales Development of 9 P.c – WWD


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