Updated January 8th, 2024 at 11:24 IST
Danish jewellery maker Pandora beats sales target, profit forecasts on strong Q4
Known for its distinctive bracelets and charms, Pandora reported a 12 per cent year-on-year increase in organic sales for the October-December interval.
Pandora shining bright: Danish jewellery brand Pandora announced on Sunday that its financial performance for 2023 surpassed internal projections, driven by robust demand and consistent profitability in the concluding quarter.
Known for its distinctive bracelets and charms, Pandora reported a 12 per cent year-on-year increase in organic sales for the October-December interval. This uptick led the company's annual growth rate to 8 per cent, outstripping its initial annual forecast range of 5 per cent to 6 per cent, which was disclosed in early November.
Before revising its projections in November, the company had anticipated a full-year organic sales growth within a range of 2 per cent to 5 per cent.
Alexander Lacik, President and CEO of Pandora, said, “We are very pleased with our results across the peak trading season, and how we closed 2023. It’s clear that our brand resonates well with consumers and continues to gain strength. The success in 2023 is also testament to the great work of Pandora teams around the world, who have helped take the Phoenix strategy to the next level.”
(With Reuters inputs)
Published January 8th, 2024 at 11:24 IST