Danish jeweller Pandora has raised its sales guidance for the second time this year as the strong demand for its charm bracelets and rings continues to rise.
Its second-quarter results have confirmed this trend, with the company posting a rise in revenues to DKK $3.6 billion, up 41 per cent compared with a year earlier. The sales figures were complimented by fluctuations in the Danish krone, with the rise in local currencies being 26 per cent.
Additionally, Pandora’s operating profit increased sharply this quarter, up 47 per cent to DKK $1.24 billion.
Because of these figures, the group upgraded its revenue forecast for 2015 for the second time this year, going up from DKK $15 billion to DKK $16 billion. At the beginning of the year, it had expected DKK $14 billion in total sales.
The company has also raised its forecast for new store openings from 325 to 375, citing the opening of a large number of concept shops in Germany for this decision.
“What I find encouraging is that we see a very strong development in all regions and all products,” says Anders Colding Friis, the company’s new CEO. “It’s a good team effort.” CJ
Author: Canadian Jeweller Magazine Staff
Canadian Jeweller Magazine Staff is the shared byline for reporting filed by the magazine's editorial desk. Founded in 1879, Canadian Jeweller is the longest running jewellery business publication in Canada, covering market reporting, retail strategy, watches, diamonds, coloured gemstones and the commerce of the Canadian jewellery trade. Work published under this byline is edited and verified by the Canadian Jeweller editorial team in Toronto.
