Pandora Q3 profit in line with forecasts, keeps outlook

Like-for-like sales increased by 17.5% during this period.

COPENHAGENDanish jewelry maker and retailer Pandora posted third quarter operating profit in line with forecasts after opening 112 concept stores in the three months to September and maintained its full-year revenue and profit outlook.

Revenue in the Americas increased by 22.7 percent (8.3% in local currency); Europe increased by 40.7 percent (36.1% increase in local currency) while Asia Pacific increased by 74.8 percent (62.9% increase in local currency).

Revenue from concept stores increased by 49.3 percent and corresponded to 60.6 percent of the total revenue.

“Both established and slightly newer markets continued the positive momentum, although USA growth was slightly lower than in previous quarters”.

“‘This is a strong result for the third quarter, with growth in all regions and all product groups”, said Friis.

For the United Kingdom specifically the brand’s new collections performed extremely well, including Pandora Rose which launched in Q2 and has been very well received.

Pandora’s European president Peter A Andersen, said: “During the third quarter, we have seen the ongoing growth of the brand within the United Kingdom, a key market for Pandora, and one in which we have successfully increased sales and revenue figures”.

Gross margin increased to 74 percent in the quarter, compared with 70.3 percent in 2014.

Pandora showed a net profit of 1 billion kroner against 725 million kroner during the same period past year.