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Pandora Sales Rise Across All Regions

Aug 10, 2016 3:58 AM   By Rapaport News
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Pandora reported revenue surged 20 percent to $648 million (DKK 4.33 billion) in the second quarter driven by higher sales volume while prices were mostly stable. In local currency terms, revenue increased 25 percent, the Denmark-based jeweler said.

Growth occurred in all three of the company’s regional segments with sales in Asia Pacific up 43 percent, while in Europe, the Middle East and Africa they advanced 28 percent, and in the Americas by 5 percent. Group profit jumped 34 percent to $182.9 million.

“All regions were supported by our continued focus on product diversification into rings and earrings,” said Anders Colding Friis, Pandora’s chief executive officer (pictured).

Revenue from Pandora’s self-branded stores grew 39 percent and the company plans to grow this selling format. It expects to open more than 300 new concept stores in 2016 compared with a previous plan to add more than 275.

Pandora maintained its revenue guidance of more than $3 billion for the full year, implying it expects sales growth upward of 19 percent.
Tags: americas, Anders Colding Friis, asia pacific, concept stores, Denmark, earrings, EMEA, jewelers, Jewelry, Pandora, Rapaport News, retail, rings
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