// Pandora sales grow 12% in February despite temporary store closures

// It closed around 25% of the Copenhagen-headquartered manufacturer, designer and retailer’s stores in February

// Pandora said it will not change its financial guidance for the full year

Pandora has reported a sales growth of 12 per cent in February despite temporarily closing a quarter of its 2700 stores worldwide.

The Danish jeweller said the number of Pandora stores closed due to the Covid-19 pandemic fell from around 30 per cent at the beginning of the month to around 25 per cent by the month-end in February.

Sales in shops or online to customers in February grew seven per cent year on year, while organic growth stood at four per cent.

READ MORE: Pandora raises profit guidance after third quarter sales recover

For the month of February, organic growth was 12 per cent and total sell-out growth was seven per cent compared to February last year.

This translates into a quarter to date organic growth of four per cent and total sell-out growth of one per cent.

Pandora said it will not change its financial guidance for its full year with organic growth above eight per cent and EBIT margin above 21 per cent.

“Pandora is pleased with the performance so far in 2021. Considering that 25-30 per cent of the stores were closed during January and February, the underlying trading continues to indicate that sell-out is stabilising or growing,” Pandora said.

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