It reported quarterly EBIT of 957 million crowns, which was above the 917 million expected by analysts, and resulted in an EBIT margin of 20.2%. Pandora, best known for its silver charm bracelets, said third-quarter sales came in at 4.73 billion Danish crowns ($734.92 million), beating the 4.67 billion expected by analysts in a poll compiled by the company. growth continue to create increased uncertainty around the guidance," it added. "COVID-19 and the unusually high level of U.S. However, that was below an average forecast of 24.6% from analysts compiled last month. Still, the company said it had continued to see strong sales in the United States, its biggest market, in the third quarter as massive government stimulus and vaccinations against COVID-19 fuelled spending on goods and services.įor 2021, Pandora now expects organic sales growth of 18-20%, up from a previous forecast of 16-18%, and an earnings before interest and tax (EBIT) margin of 24-24.5%, up from a previously forecast 23-24%. "The sell-out growth is kind of disappointing in Q3," said Sydbank analyst Per Fogh.
Pandora's shares had surged 40% this year as the company had seen sales top pre-pandemic levels since shops reopened after lockdowns. sales, but its share price dropped 4.8% in early trade as it also said sales at Pandora stores grew just 5% in the third quarter, while analysts had expected 14% growth. The Danish company lifted its full-year outlook, citing strong U.S.
PANDORA RECOVERY CHARM FULL
The firm will report full third quarter earnings on November 3rd.COPENHAGEN (Reuters) - Shares in Pandora, the world's largest jewellery maker by production capacity, fell sharply on Monday as investors were concerned about weak sales growth at its own stores in the third quarter. “The easing of COVID-19 restrictions has eliminated revenue growth and EBIT margin from continued US performance and sequential improvement in Europe,” said Pandora. This led to a quarterly EBIT of analysts’ estimates and a 20.2% EBIT margin. The Danish company is famous for its chunky charm bracelets. Known for its silver charm bracelets, Pandora said third-quarter sales were $ 734.92 million, according to a survey of analysts compiled by the company. “COVID-19 and the unusually high level of US growth continue to create increased uncertainty around the guidance,” it added. However, it was down 24.6 percent on average from analysts compiled last month. APįor 2021, Pandora now expects organic sales growth of 18 percent to 20 percent, from the previous forecast of 16 percent to 18 percent, and the interest and tax (EBIT) margin from 24 percent to 24.5 percent over the previous year. US stores benefited from consumer spending stimulated by government stimulus. Still, the company said it continued to see strong sales in its biggest market, the US, in the third quarter, with massive government stimulus and vaccinations against COVID-19 boosting costs on goods and services. “The growth in sales in Q3 is disappointing,” said Sidbank analyst Per Fogg. Pandora’s shares have risen 40 percent this year, as the company has seen pre-epidemic sales since the stores reopened after the lockdowns.
The Danish company upheld its full-year outlook, citing strong US sales, but its share price fell nearly 7 percent in early trading, as analysts expected Pandora’s stores to grow by just 5 percent in the third quarter to 14 percent. Shares of Pandora, the world’s largest jewelry maker, fell sharply on Monday as investors worried about weak sales growth in its own stores in the third quarter.
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