PANDORA TRADING UPDATE

  • Financial performance was strong in pandora jewelry sale January and February with particularly good development in the Online Store and in some key markets generating positive like-for-like. Total like-for-like excluding China was better than the full-year financial guidance but the COVID-19 escalation has led to material weakness in sales across markets. In China, like-for-like has been pandora jewelry near me between -70% and -80% since late January. Revenue is currently slightly improving, but a return to normal demand will expectedly take time and be outside the control of Pandora. The European markets, and Italy in particular, have been visibly impacted since late February. Italy generated solid positive like-for-like in January and February, while trading in March has now almost come to a complete halt. Australia is impacted due to a pandora rings sale uk decline in tourism and most other markets are now indirectly impacted through a general dampening of consumer sentiment. In the markets affected by lock-downs and other governmental measures, revenue is expected to be negligible while these circumstances prevail. The timing and pattern of the return to normalised business is obviously subject to uncertainty and outside the control of Pandora. Pandora is actively managing pandora charms sale clearance cost levels, including media, rent and other store costs, to ensure an appropriate balance between protecting profits while continuing to drive revenue from the Online store and build on the underlying momentum of the brand. Despite the headwind caused by COVID-19, profitability is expected to continue to be strong in Q1 2020.