Pandora beats forecasts and narrows its 2026 guidance to the upper end
The Danish jeweller's like-for-like sales rose 4% in the third quarter, above every analyst estimate, and it now expects 2–3% organic growth this year. Shares jumped about 7%, although October growth slowed to 1%.
Danish jewellery maker Pandora, whose charm bracelets start at $80, reported a stronger third quarter than analysts expected and nudged up its 2026 targets.
The quarter
- Revenue reached DKK 6.69 billion (about $1 billion), with 6% organic growth and 4% like-for-like growth; analysts had expected 2% like-for-like.
- All regions grew: Asia-Pacific +20%, Latin America +6%, North America +3%, and Europe returned to growth at +1% after five quarters of decline, WWD noted.
- The operating (EBIT) margin was 15.9%, but a one-off partial refund of US tariffs added 3.7 percentage points; the underlying margin was roughly flat.
Outlook and strategy
Pandora now expects 2–3% organic growth in 2026 (previously 0–3%) and an EBIT margin of 22.5–23%. Like-for-like growth slowed to 1% in October, which the company attributed to fewer promotions.
The company says it will push a more distinctive design strategy in 2027 and is expanding its test of platinum-plated jewellery from the Netherlands to markets including the US, UK and Australia, with a broader transition planned for 2027.
Shares rose more than 7% in Copenhagen.
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