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Pandora’s Revenue Surges 41% in 2Q on Concept Stores, Forex
Aug 11, 2015 10:58 AM
By Rapaport News
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RAPAPORT... Pandora reported a 41 percent surge in revenue in the second quarter as an expansion of concept stores and favorable foreign-exchange rates lifted sales in all geographic markets.
Group revenue jumped to $531.8 million (DKK $3.6 billion) in the three months that ended June 30, taking net profit for the period t to $134.5million (DKK 910 million), a 37 percent advance from a year ago.
Sales volume increased 16 percent as concept stores generated 59 percent of Pandora’s total revenue during the quarter, the company said in a statement released on Tuesday. It plans to add in 2015 more than 375 new concept stores, compared with an original target of 325 new concept stores. Products introduced in the past 12 months accounted for almost 50 percent of the growth in company sales.
“All major regions once again delivered double digit revenue growth and our focus on concept stores continues to pay off, with revenue growth in the quarter of more than 50 percent, Anders Colding Friis, Pandora’s CEO, said in the company’s report.
The average sale price per unit catapulted 22 percent to $25 (DKK 168), with favorable exchange rates explaining most of that increase. Local currency prices were virtually unchanged from a year ago, the company said.
Revenue in the Americas climbed 44 percent to $234.2 million (DKK 1.6 billion). In Europe, sales jumped 38 percent to $217.8 (DKK 1.5 billion). Asia-Pacific was also up, growing 44 percent to $81.9 million (DKK 552 million) in the period under review.
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Tags:
bead, concept stores, danish, Jewelry, Pandora, Rapaport News
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