Pandora posts 12% natural progress for February

Pandora posts 12% organic growth for February

Luxurious jewelry retailer Pandora has reported a year-on-year natural progress of 12% for February 2021. 

The month additionally represented a year-on-year whole sell-out progress of seven%, whereas the quarter up to now achieved four% natural and 1% sell-out expansions when in comparison with Q1 of FY20.

The outcomes are a part of a month-to-month replace by the model “because of the elevated uncertainty associated to Covid-19”. 

They’ve additionally been supplied as a press launch, slightly than an organization announcement, as a consequence of directions from NASDAQ Copenhagen, the place the agency is headquartered.

Pandora introduced that whereas 30% of its 2,700 world shops had been closed firstly of the month, this fell to 25% by the top of February.

The discharge confirmed that Pandora is “happy with the efficiency to this point in 2021,” regardless of whole sell-out declining 6% for the quarter up to now in comparison with 2019 ranges.

It added: “Contemplating that 25-30% of the shops had been closed throughout January and February, the underlying buying and selling continues to point that sell-out is stabilising or rising. Promote-out progress within the US continues to be very robust.”

The agency reiterated its monetary steerage for the upcoming yr, because it appears to be like to realize natural progress “above eight%” and an EBIT margin of “above 21%”.

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