Friday, September 22, 2017

Pandora charms the market with 38% profit rise


Danish Jeweller Pandora has reported a 38% net profit rise in sales in its third quarter. UK revenue increased by 50.5% compared to the same period the previous year. 

Like-for-like sales increased by 17.5% during this period. Additionally, online sales have grown, making up 10% of the jeweller’s total revenue.

Pandora, whose popular charm bracelets, rings and earrings are available at around 9,500 sites worldwide, saw a further 10 stores open, to a total of 179 in the UK

The retailer said that it has expanded its focus on different ranges including rings which now contributes 20% of UK turnover, while its charm bracelets continue to drive the most sales.

“During the third quarter, we have seen the ongoing growth of the brand within the UK, a key market for Pandora, and one in which we have successfully increased sales and revenue figures” said Peter Andersen, President of Pandora Western Europe.

“The all-important Christmas season is just around the corner and we look towards it positively – it is a very exciting time for the brand – both globally and within the UK as we continue to focus on developing our business, opening new concept stores and delivering long term growth through the popularity of the product” Anderson added.



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