Alexander Lacik

Pandora revenues slump in Q2 results           

Pandora has reported revenues of DKK 2.87bn (£348m) in its second-quarter of trading, down from DKK 4.69bn (£569m) during the same period last year. Gross profit also decreased from DKK 3.5bn (£424m) to DKK 2bn (£242m), and Pandora now expects organic growth to be down 20% in 2020. The full-year…

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Pandora maintains ‘strong financial position’ despite pandemic

Pandora said it is in a “strong financial position” to sustain a prolonged Covid-19 crisis, as it recorded “positive organic growth” in the first quarter of 2020.  Despite a recorded 14% drop in organic growth, its EBIT margin was 15.3% in the three months ended 31 March 2020.  The group…

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Pandora closes stores across globe

Pandora has announced the temporary closure of many of its stores in order to “support the efforts” to limit the spread of Covid-19. In its latest statement, the group confirmed that it had temporarily closed all owned and operated stores in the United States, Italy, Germany, France and Spain. In…

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Pandora slashes 180 jobs in restructuring bid

Pandora announced it is to slash 180 jobs “as a consequence of strategic reorganisation”. The news came as the jewellery group detailed its next steps for restructuring programme, Programme NOW. In its latest update, the group said it would close three regional organisations, thereby “eliminating an organisational layer” between global…

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Pandora sales slip in third quarter

Jewellery brand Pandora has reported a 10% drop in like-for-like sales in its third-quarter results. Overall earnings over the quarter, before interest and tax, fell by 25%. Meanwhile, the company’s organic growth for the year is expected to land between -7% and -9%, despite previous forecasts of a growth between…

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Pandora posts ‘weak’ Q1 results

Jewellery retailer Pandora has reported “weak” financial results for the first quarter of 2019,  impacted by the commercial reset initiated as part of its ‘Programme NOW’. Total like-for-like sales-out growth (like-for-like) was -10%, driven by lower traffic in physical stores, and online like-for-like sales was 7%. Organic growth ended at…

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Pandora COO exits

Pandora’s chief operations officer (COO) Jeremy Schwartz has resigned from his position at the jewellery retailer. Following a mutual agreement between the chairman of the board of directors and Schwartz, the resignation will take effect as of today (4 April). However, Schwartz will be available as an advisor to incoming…

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