RapNet


Rapaport News

 

Retail

 

Advanced search
Latest Articles
Videos
Features
News
Mining
Rough Markets
Polished Markets
Manufacturing
Retail

Pandora Set to Meet 2019 Sales Forecast

Company expects full-year decline to be less steep than it had feared.
Jan 7, 2020 8:06 AM   By Rapaport News
Print Print Facebook Facebook Twitter Twitter Share Share


RAPAPORT... Pandora’s shares rose 12% after the company released preliminary results indicating it would meet its sales outlook for the year.

The Danish jeweler expects same-store sales — at branches open for at least a year — to have fallen 4% in the fourth quarter of 2019 and 8% for the full year, it said Monday. The figures are in line with the forecast the company issued at the beginning of the year, despite a November update warning the 2019 drop could be steeper.

Pandora expects total sales to have decreased 1% for the October-to-December period, while revenue for the year slid 8%, it estimated. In November, the company forecast a 7% to 9% decline for the year. The full-year earnings before interest and taxes (EBIT) margin, excluding restructuring costs, will be at the upper end of the predicted 26% to 27% range.

“The sequential improvement in like-for-like [sales] confirms the strategic direction and the effectiveness of Programme Now to bring Pandora back to sustainable growth,” the jeweler said.

Same-store sales for 2020 are expected to remain negative, while the EBIT margin is expected to fall.

Pandora will report its full 2019 sales results on February 4.

Image: A Pandora store in the Netherlands. (ThomasGTC)
Tags: Pandora, Programme Now, Rapaport News
Similar Articles
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First



Call Us: 1-702-893-9400
Member License Agreement   RapNet Trading Rules & Code of Conduct    Privacy Policy  
  
twitter twitter
About Rapaport
Advertise with us