Tuesday, June 25, 2024

Pandora Upgrades Full-Year Revenue Forecast Amid Strong Second-Quarter Sales

Danish jewelry manufacturer, Pandora, has revised its full-year revenue projection upwards as it announced second-quarter sales that surpassed expectations, attributed to improved performances in the United States and China.

Pandora’s CEO, Alexander Lacik, remarked in a statement, “Considering our robust performance thus far, our updated guidance points towards another year of positive organic growth.”

The company now anticipates an organic sales growth ranging from 2% to 5%, contrasting with the previous projection of -2% to 3%. Prior to this announcement, analysts had, on average, predicted 3% organic sales growth for the year based on a poll provided by the company.

The jewelry maker has maintained its earlier estimation for the margin on earnings before interest and tax (EBIT) to be around 25%.

As of 0701 GMT, Pandora’s shares experienced a 2.5% increase in trading.

Sales for the April to June period rose to 5.9 billion Danish crowns ($864 million), a rise from the previous year’s 5.7 billion. Analysts had, on average, anticipated 5.7 billion in sales, based on a poll conducted by Pandora. The organic growth during this period reached 5%.

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