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Pandora Sales Rise as Store Network Grows

Feb 8, 2017 4:02 AM   By Rapaport News
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RAPAPORT... Pandora’s revenue grew 21 percent to $2.9 billion (DKK 20.28 billion) last year as the jeweler expanded its network of branded stores.

The number of Pandora-branded retail locations, known as concept stores, increased by 336 to 2,138 in 2016, the company reported. These types of stores recorded a 37 percent jump in sales. Revenue from multi-branded stores fell 7 percent as the number of locations slumped by 1,829 to 3,966.

“Growth was mainly driven by an increase in volume,” the Denmark-based jeweler said. “On average, prices on individual products towards the end consumer were largely unchanged.”

Profit jumped 64 percent to $861.9 million (DKK 6.03 billion) due to higher sales and finance income.

For full-year 2017, the company forecast its revenue will come in between $3.29 billion (DKK 23 billion) and $3.44 billion (DKK 24 billion) in 2017, a year in which Pandora will add more than 275 new concept stores.
Tags: concept stores, Denmark, Jewelry, Pandora, Rapaport News, retail
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