Advanced Search

Virus Resurgence Forces Pandora Store Closures

Feb 8, 2021 10:28 AM   By Leah Meirovich
Comment Comment Email Email Print Print Facebook Facebook Twitter Twitter Share Share

Pandora shuttered approximately 30% of its retail network in January amid a new outbreak of coronavirus cases.

Most of the store closures were in Europe, with all its UK shops shut as the country battles a more severe variant of the virus, a spokesperson for the Danish jeweler told Rapaport News Monday. As of December 31, some 10% of global locations were closed.

The company’s sales fell 3% year on year in January on an organic basis. In January 2020, Pandora saw a limited impact from the pandemic, as the outbreak was mainly centered in China at the time, and the company did not begin closing stores until January 22.

January’s performance was in line with the company’s expectations. Pandora still forecasts organic growth above 8% for the full year, as well as an earnings before interest and tax (EBIT) margin of more than 21%, it noted.

Image: A Pandora store in Harrogate, UK. (Pandora)
Tags: COVID-19, Danish jeweler, Jewelry, Leah Meirovich, Pandora
Similar Articles
Bharat Diamond BourseIndia’s Diamond Trading Jumps in December
Jan 19, 2022
India’s polished-diamond exports rose 3% year on year to $1.77 billion in December as the market continued to strengthen during
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First
© Copyright 1978-2022 by Rapaport USA Inc. All rights reserved. Index®, RapNet®, Rapaport®, PriceGrid™, Diamonds.Net™, and JNS®; are registered TradeMarks.
While the information presented is from sources we believe reliable, we do not guarantee the accuracy or validity of any information presented by Rapaport or the views expressed by users of our internet service.