Economic news

Jewelry Producer Pandora Gauges Sales Drop in 2020

Danish jewelry producer Pandora, which is attempting to restore its image amid drowsy deals, said on Tuesday it had seen an improvement in the Q4 yet that it would not come back to sales advancement the current year. 

pandoraPhoto: Flickr

Stocks in Pandora have ascended around 20 percent since it said on Jan. 6 that it would meet its 2019 sales and overall revenue figure, which traders took as a sign that endeavors to pivot the jeweler could be paying off. 

Pandora expects organic sales development this year of minus 3 to minus 6 percent, an improvement from a year ago's drop of 8 percent. It anticipates a working net revenue, barring rebuilding expenses, of 23 percent, contrasted with 26.8 percent in 2019. 

Yet, the estimates don't represent any effect from the coronavirus in China, where it has closed 53 of its 237 shops. 

Q4 profit before interest tax (EBIT) and barring rebuilding expenses were 2.81 billion Danish crowns ($416.01 million), over the 2.75 billion crowns expected by 16 experts in a survey arranged by Pandora.

Source: Reuters

To leave a comment you must or Join us

More news

Back to economic news list

By visiting our website and services, you agree to the conditions of use of cookies. Learn more
I agree