Pandora has revealed it expects its financial results for 2020 to exceed the high end guidance range of “-14% to -17%”.
The luxury jewellery brand began 2020’s Q4 with “positive” organic growth in October and November, with December being impacted by the phasing of revenue.
On average, more than 10% of the physical stores were temporarily closed during this period last year.
Despite the negative impact of Covid-19 restrictions on face-to-face retail, the jeweller said the pandemic’s effect on business has been offset by a non-recurring positive impact from reallocation of consumer spending away from travelling, as well as services towards gifting and discretionary goods.
Pandora is set to announce its detailed financial results for this quarter on 4 February 2021.