Pandora products are seen at their store at the Woodbury Common Premium Outlets in Central Valley, New York, U.S., February 15, 2022.
Pandora said it now forecasts full-year organic sales growth of 5%-6%, up from 2%-5% previously seen, and said it still expects an operating profit margin of around 25%.
Operating profit fell to 920 million crowns ($132 million)from a year-earlier 978 million as costs rose, although this also beat analyst expectations for a profit of 875 million crowns in apoll published by Pandora.
Improvement in like-for-like sales was driven by the U.S., as traffic picked up in the region given recent brand initiatives.
The affordable luxury brand said its gross margin reached a record 79%, helped by cost savings and price hikes.
Persons:
Andrew Kelly, Pandora, apoll, Alexander Lacik, Louise Breusch Rasmussen, Anna Ringstrom, Louise Heavens
Organizations:
Woodbury, REUTERS, Rights, Pandora, JPMorgan, Thomson
Locations:
Central Valley , New York, U.S