Pandora store in Hong Kong

PANDORA’S REVENUE JUMPS 13% IN Q3

Danish jewelry brand Pandora has reported a rise of 13% in revenue to DKK 5.19 billion ($809 million) in the third quarter of 2017. According to Gem Konnect, the rise was mainly driven by “a strong 26% increase in the Asia-Pacific region — mainly Australia and China — and a solid 15% growth in the Europe, Middle East and Africa (EMEA) markets”. In the US, there was a 6% rise.

 

“Currency headwinds” and the hurricanes that hit the US “are expected to have a negative impact of DKK 150 million ($23.4 million)” and the full year guidance will be in the lower part of the DKK 23-24 billion ($3.6-$3.7 billion) range.

 

Pandora CEO Anders Colding Friis said: “The results in the third quarter were in-line with our expectations, with the underlying development showing positives as well as negatives […]”.

 

Pandora plans to add more than 300 new concept stores in 2017 – 50% are expected to be opened in the EMEA region, 25% in the Americas and 25% in the Asia Pacific region.

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