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Pandora Lifted by Asia-Pacific Growth

Nov 1, 2016 10:09 AM   By Rapaport News
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RAPAPORT... Pandora reported revenue and profit grew strongly in the third quarter as Asia-Pacific sales rocketed and new collections were well received.

Revenue increased 18 percent to $683.1 million (DKK 4.61 billion) and net profit leapt 40 percent to $208.1 million, the Denmark-based jeweler reported. Sales grew in all three geographical regions: the Americas, EMEA and Asia Pacific. The latter showed the steepest rise, growing 46 percent to $130.6 million.

Group revenue advanced 21 percent in local currency, the company added.

“The increase was driven by double digit growth across all product categories supported by an attractive and relevant product offering,” said Anders Colding Friis, Pandora’s chief executive officer (pictured).

Pandora maintained its sales forecast of more than $2.96 billion for the year, implying an increase of at least 20 percent over last year. The company expects to open more than 325 concept stores in 2016 compared with an earlier plan of more than 300.
Tags: Anders Colding Friis, asia pacific, Denmark, Jewelry, Pandora, Rapaport News, retail
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