Pandora: Q3 results surprise pleasantly

(CercleFinance.com) - On Tuesday the Danish jeweller Pandora unveiled Q3 results that are higher than expected, resulting in the share increasing by almost 3% on the Copenhagen Stock Exchange.


Indeed, the company reported a 5% organic decline in sales over the past quarter, but also a return to positive growth of 1% in its activity on a comparable basis, i.e. excluding shop closures.

Pandora announced a limited decline in its gross margin to 78.1%, compared with 78.6% at the same time last year.

Pandora has shown resilience and agility during the pandemic and the double-digit growth rates recorded in the US and UK in Q3 show that a recovery is underway, it group said.


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