Mar 12

Pandora’s Third-Quarter Profit Declines 3%

The profit of Pandora, a Danish jewelry brand, was reduced by 3% year-on-year to US$1.37 billion and US$2.17 billion by the US hurricane in August and September. Sales revenue increased by 13% year-on-year to approximately DKK 5.19 billion, which was approximately US$825 million in all product categories. Double-digit growth. Among them, Pandora Rose series sales rose three times compared with the same period last year. During the period, significant double-digit growth was recorded in Germany, Italy, Australia and China.

The Group expects sales in FY17 to be between 23 billion and 24 billion DKK, or between 2.72 billion and 2.84 billion U.S. dollars. After the publication of the financial report, Pandora’s share price once slumped 4.73% to DKK 564.4 per share, with a market value of approximately DKK 63.5 billion. In addition, Pandora disclosed in his financial report that it has been expanding globally. The next key development goal is the Indian market. It plans to add 50 stores in India in the next three years. At the same time, it will also offer 110 million euros to recycle the brand’s distribution business in the Spanish market to formally enter the Spanish region. The brand also recycled its distribution rights in Belgium and South Africa earlier this year. As of the end of the second quarter of the reporting period, Pandora had 2,266 stores and 5,459 sales locations worldwide.

In the second quarter, Pandora opened a total of 51 new stores, of which 17 are located in mainland China. It is worth noting that Pandora was founded by Per Enevoldsen and his wife Winnie in 1982 in Copenhagen, Denmark. Pandora’s bracelet launched in 2000 was very popular, helping women achieve outstanding results among a group of people, allowing them to express their own personalities by “designing” their own jewellery. With the strong development momentum in recent years, it has become the third-largest global jeweler and the world’s largest gold, silver and jewellery manufacturer.

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