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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.
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Tags:
concept stores, Denmark, Jewelry, Pandora, Rapaport News, retail
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