Yahoo Finance Jewellery retailer Pandora’s full-year sales sparkle
Pandora, the jewellery retailer famed for its charm bracelets, said full-year revenue growth came in ahead of forecasts as it cheered recent solid trading.
The Copenhagen-headquartered chain, which has 198 stores in the UK including branches in Canary Wharf, Covent Garden and King’s Cross, said organic revenue rose 7% to 26.5 billion DKK (£3.2 billion). The guidance had been 4-6% growth.
Chief executive Alexander Lacik said: “We ended 2022 on a high note. Despite the macroeconomic pressure on consumers and Covid-19 headwinds in China, we continue to deliver solid growth versus pre-pandemic levels. We have started 2023 well, and are confident that the transformation of the brand over the past few years puts Pandora in a good position to manage adversity and emerge stronger.”
The retailer’s initial guidance for 2023 is -3% to 3% organic growth. This year it has new collections planned and further geographical expansion.
The company added that it has launched a new share buyback scheme.
