Danish jewellery brand Pandora has trimmed its 2025 sales forecast, citing a challenging consumer environment and weaker demand in key markets, particularly China and Europe.
The company now expects full-year like-for-like growth of 3% to 4%, down from its previous forecast of 4% to 5%, while maintaining its outlook for 7% to 8% organic growth.
Pandora reported a 2.7% increase in revenue to DKK 6.27 billion in the third quarter, driven by continued strength in the United States. However, slower sales in China, Germany, the UK, Italy and France weighed on performance.
Operating profit fell 10% year-on-year to DKK 880 million, impacted by foreign-exchange movements, rising commodity costs and US import duties. Net profit declined 18% to DKK 489 million.
“Despite the macroeconomic challenges to top and bottom line, we are confident that we will deliver on our targets for the year,” says Alexander Lacik, President and CEO of Pandora.
Pandora, which operates major manufacturing facilities in Thailand, saw its share price fall around 4% following the announcement.
Source: Rapaport
