Pandora saw a “strong end to 2023” as trading during the key golden quarter period beat expectations.
The jewellery giant’s revenue hit £1.2bn, up from £1.1bn in Q4 2022, with organic growth up by 12% boosted by like-for-like growth of 9%.
Sales also rose 12% year-on-year to £1.25bn during the period, while like-for-like revenues were up 9%.
The business saw “solid” 5% growth in Europe, with its US arm accelerating to 10%, contributing to an overall 16% growth across the rest of its business.
The group highlighted its “continued brand momentum” drove strong performance throughout Black Friday and Christmas.
Full-year organic growth for the business reached 8%, beating its former guidance of between 5% and 6%, while full-year EBIT margin stayed “in line” with expectations hitting 25%.
Subscribe to Retail Gazette for free
Sign up here to get the latest news straight into your inbox each morning
Pandora also pointed out strong like-for-like growth across its Moments and Pandora ME collections delivered 4% and 6% growth respectively.
CEO and president Alexander Lacik said: “We are very pleased with our results across the peak trading season, and how we closed 2023.
“It’s clear that our brand resonates well with consumers and continues to gain strength. The success in 2023 is also testament to the great work of Pandora teams around the world, who have helped take the Phoenix strategy to the next level.”
Back in August Pandora opened doors to a new store on London’s Oxford Street back in August, designed “to immerse visitors in Pandora’s world of charms, bracelets, rings, earrings and necklaces”.
The store marked the third for the world’s largest jewellery brand along Oxford Street.
Click here to sign up to Retail Gazette‘s free daily email newsletter
