Pandora: share in demand after trading update
(CercleFinance.com) - The Pandora share is up around 5% on the OMX this morning, in demand after the Danish jeweller's trading update, when it confirmed its FY targets for its organic growth and operating margin, excluding restructuring.
As expected, financial results remained weak and were impacted by the commercial restart initiated under the NOW program, the group acknowledges, indicating a 7% fall in organic terms over its second quarter, with fewer visits to stores.
However, Pandora's management has confirmed that it is seeing the first positive signs from the NOW program in its underlying gross margin, its cost levels and cash generation.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
As expected, financial results remained weak and were impacted by the commercial restart initiated under the NOW program, the group acknowledges, indicating a 7% fall in organic terms over its second quarter, with fewer visits to stores.
However, Pandora's management has confirmed that it is seeing the first positive signs from the NOW program in its underlying gross margin, its cost levels and cash generation.
Copyright (c) 2019 CercleFinance.com. All rights reserved.