Based on unaudited financial numbers, Q4 total like-for-like1 is expected to be -4% concluding the financial year 2019 with total like-for-like1 of -8% which is in line with the expectations communicated at the beginning of the year. Organic growth is expected to be -1% for Q4 and -8% for the full year. The full-year EBIT margin excluding restructuring costs is expected to be in the upper end of the guided range of 26-27%.
The sequential improvement in like-for-like confirms the strategic direction and the effectiveness of Programme NOW to bring Pandora back to sustainable growth with industry-leading margins. As previously communicated, like-for-like is expected to be negative in 2020. Further, the 2020 EBIT margin excluding restructuring costs is expected to be lower than in 2019.
Pandora is in a silent period and no further comments nor details will be provided before the release of the Annual Report 2019 on 4 February 2020.
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