Consumers continue to be charmed by Pandora, as the brand reports stellar profits. WGSN Senior Editor Petah Marian reports
Jewellery brand Pandora has continued its stellar net profit growth, as third quarter net profit was up on strong sales in Europe and Asia Pacific.
The company said net profit reached DKK1.006bn, a 38.8% increase on the DKK736m it reported in the same period of the last year.
Revenue grew 37.5% to DKK3.91bn. Americas revenue increased by 8.3% in local currency, in Europe, revenue grew 40.7%, while Asia Pacific revenue jumped by 74.8%.
Gross margin advanced to 74% in the third quarter from 70.3% in the same period of the prior year.
Pandora CEO Anders Colding Friis said: “The strong top-line development has continued in the third quarter of the year, and again all regions contributed to the growth. Europe and Asia Pacific in particular did well, with both established as well as less developed markets continuing the positive momentum. Growth in the US was slightly softer than previous quarters primarily due to a change in promotion strategy in the region to further enhance our brand.”
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