Pandora Posts Big Jump In Revenue In Q3

(IDEX Online) – Jewelry giant Pandora reported an increase of 26.2 percent in revenue in Q3 2014 to $475.4 million (DKK 2.845 billion).

Sales in the Americas increased by 17.7 percent, Europe was up 30.4 percent, and the Asia Pacific region increased by 43.2 percent.

Revenue from Pandora’s own concept stores accounted for 55.9 percent of revenue, an increase of 43.0 percent.

Based on the strong performance in the third quarter of the year, Pandora has decided to increase revenue guidance for 2014 to more than $1.92 billion (DKK 11.5 billion) – the previous guidance was for more than DKK 11.0 billion.

The firm said it plans to continue to expand its store network and now expects to add more than 300 new concept stores in 2014 compared to a previously expected more than 275. A proportionally higher share of owned and operated stores is expected to be opened in the fourth quarter, compared to the same period last year.

CEO Allan Leighton said: “All regions continued to perform well, driven by expansion of the store network, improving store execution, and continuously relevant products. In addition, the result of our focus on rings is particularly pleasing, with revenue for the category almost doubling in the quarter."