FinancialsAug 09, 2024
Brilliant Earth Lowers Guidance Following Q2 Sales Dip FinancialsAug 13, 2024
Pandora Raises Guidance Again as Q2 Sales Climb Double Digits
The jewelry retailer is eyeing expansion, increasing the number of stores it plans to open this year.
A selection of cultured pearl jewelry from the “Pandora Essence” collection. The company raised its guidance following a strong performance in the first half of the year.
Copenhagen, Denmark—Pandora is once again raising its guidance for the year following a strong first half.
The company reported Monday that second-quarter revenue was up 15 percent year-over-year at actual exchange rates to 6.77 billion Danish kroner ($990 million), with like-for-like sales growth of 8 percent.
First-half revenue totaled 13.61 billion Danish kroner ($1.99 billion), up 16 percent at actual exchange rates, with like-for-like sales growth of 9 percent.
“Our strategy continues to take Pandora to new heights despite general consumer spending being somewhat sluggish,” said Pandora CEO Alexander Lacik.
“We have successfully started the journey to make Pandora known as a full jewelry brand, and our results show that consumers like what they see.”
Pandora credits its success to the strength of its brand, bolstered in part by its “Be Love” campaign, which aims to reframe consumer perception of the company as a complete jewelry brand, rather than a company that just sells beads and charms.
While the campaign is less than a year old, Pandora said it’s already seen an increase in traffic in its stores and on its website as a result.
The company reported higher traffic across channels in the second quarter, with online sales seeing 19 percent like-for-like growth and accounting for 20 percent of total revenue.
Pandora-owned stores are outperforming partner stores, it said, posting 6 percent like-for-like growth while sales at franchise stores were flat.
In the United States, Pandora reported 9 percent like-for-like growth.
“The overall jewelry market sequentially slowed in the second quarter, and the growth in Pandora U.S. continues to be well ahead of the broader market, which remains flattish to slightly down,” said the company.
Its key European markets also performed well, with 10 percent like-for-like growth in the region and Germany once again the standout.
Second-quarter sales grew 13 percent in the rest of Pandora’s markets.
Related stories will be right here …
The company reported Monday that second-quarter revenue was up 15 percent year-over-year at actual exchange rates to 6.77 billion Danish kroner ($990 million), with like-for-like sales growth of 8 percent.
First-half revenue totaled 13.61 billion Danish kroner ($1.99 billion), up 16 percent at actual exchange rates, with like-for-like sales growth of 9 percent.
“Our strategy continues to take Pandora to new heights despite general consumer spending being somewhat sluggish,” said Pandora CEO Alexander Lacik.
“We have successfully started the journey to make Pandora known as a full jewelry brand, and our results show that consumers like what they see.”
Pandora credits its success to the strength of its brand, bolstered in part by its “Be Love” campaign, which aims to reframe consumer perception of the company as a complete jewelry brand, rather than a company that just sells beads and charms.
While the campaign is less than a year old, Pandora said it’s already seen an increase in traffic in its stores and on its website as a result.
The company reported higher traffic across channels in the second quarter, with online sales seeing 19 percent like-for-like growth and accounting for 20 percent of total revenue.
Pandora-owned stores are outperforming partner stores, it said, posting 6 percent like-for-like growth while sales at franchise stores were flat.
In the United States, Pandora reported 9 percent like-for-like growth.
“The overall jewelry market sequentially slowed in the second quarter, and the growth in Pandora U.S. continues to be well ahead of the broader market, which remains flattish to slightly down,” said the company.
Its key European markets also performed well, with 10 percent like-for-like growth in the region and Germany once again the standout.
Second-quarter sales grew 13 percent in the rest of Pandora’s markets.
Like-for-like sales were up 1 percent for its core segment, which includes its “Moments” and “Me” collections and its collaborations.
Sales in the segment were weighed down by the “Collabs” segment, which was up against tough comparables after the success of last year’s “Disney 100” collection.
Pandora’s “fuel with more” segment, which includes its lab-grown diamond jewelry as well as its “Timeless” and “Signature” collections, saw sales grow 29 percent in the quarter.
Sales of its lab-grown diamond jewelry collection totaled 61 million Danish kroner ($8.9 million) in the quarter.
The collection posted like-for-like growth of 88 percent, though lab-grown diamond jewelry sales still represent less than 1 percent of Pandora’s total sales.
Pandora launched the “Pandora Essence” collection globally in Q2 and said the initial feedback has been encouraging.
The collection aims to bring a contemporary and sculptural feel to jewelry staples, and Pandora said it will continue to explore new design aesthetics.
The company also expanded its store network in Q2, opening a net 143 concept stores and 112 Pandora-owned shop-in-shops over the past 12 months.
Pandora upped the number of stores it plans to open this year to 100 to 150 concept stores from its prior guidance of 75 to 125.
It also now plans to open 50 to 75 shop-in-shops, more than its previously stated goal of 25 to 50.
The company is forecasting 400 to 500 targeted net openings from 2024 to 2026.
Pandora also opened its first global two-story flagship store in its hometown of Copenhagen, marking its largest store to date at 500 square meters (nearly 5,400 square feet).
The jewelry retailer operates 6,635 points of sale as of Q2, a gain of 108 year-over-year.
Looking to the year ahead, Pandora has once again raised its fiscal guidance.
Pandora now expects to see organic growth of 9 to 12 percent, up from its prior guidance of 8 to 10 percent. Its EBIT margin guidance is unchanged at around 25 percent.
So far in Q3, Pandora said sales are “healthy,” with like-for-like growth in the mid-single digits.
Editors' Picks
Sponsored by
More on Financials
The Latest
IndependentsAug 14, 2026
Smyth Jewelers to Open Fourth LocationThe family-owned jeweler will open a new showroom in Bel Air, Maryland, this fall.
CrimeAug 14, 2026
Wife of Man Convicted in Jeweler’s Murder Sentenced for Conspiracy Amanda Ileana Hernandez is married to Carlos Hernandez, one of two men in prison for the 2024 murder of Michigan jeweler Hussein Murray.
TrendsAug 14, 2026
Paul Morelli’s Latest ‘Wavey Vine’ Earrings Embrace ColorThe reimagined jewel, our Piece of the Week, trades the diamonds in the original 1998 design for blue, pink, yellow, and green sapphires.
Brought to you by
Why More Jewelry Retailers Are Hosting Turnkey Estate Buying EventsRetailers are seeking new ways to attract customers, increase traffic, and create revenue – Estate buying events are a popular solution.
Supplier BulletinAug 13, 2026
Your Piece Could Be the One Editors Talk AboutSponsored by American Gem Trade Association
Weekly QuizAug 13, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
AuctionsAug 13, 2026
This Gold Cadbury ‘Conundrum’ Egg Set a World Auction RecordThe 22-karat gold egg, sold at Batemans Auctioneers in the U.K., was part of a 1980s treasure hunt ad campaign for Cadbury Creme Eggs.
SourcingAug 13, 2026
2,488-Carat Diamond, Largest Found in Botswana, Has a New Owner Lucara Diamond Corp., which recovered the “Motswedi” diamond from the Karowe mine, sold the stone for an undisclosed amount.
Brought to you by
Wedding Band Trends 2026: Personalization Takes Center StageColored gemstones, artisan finishes, mixed metals, and meaningful details are shaping demand in bridal jewelry.
CollectionsAug 13, 2026
John Hardy Infuses ‘Icon,’ ‘Heishi’ Collections with ColorThe expanded collections now feature hand-cut gemstones like topaz, tanzanite, chrysoprase, chalcedony, smoky quartz, and fire opal.
Lab-GrownAug 13, 2026
Jean Dousset Opens Third StoreThe lab-grown diamond jewelry brand’s newest boutique is in Westfield Valley Fair in Santa Clara, California.
SourcingAug 12, 2026
Eshed-Gemstar on the Painstaking Process of Cutting ‘The Legacy Emerald’The gemstone supplier and manufacturer acquired the remarkable 104-gram Zambian emerald at Gemfields’ auction in May.
CrimeAug 12, 2026
Elderly NYC Woman Targeted in Jewelry Swap SchemeTwo suspects offered to trade the woman a “winning” lottery ticket for her jewelry.
SourcingAug 12, 2026
Another Diamond Mine Poised to CloseFinsch has been in business rescue since May, and owner Petra Diamonds said it sees no viable path forward for the mine.
CrimeAug 12, 2026
Jewelry Store Employee Gets 20 Years to Life in Choking Death of BossMichel Patrick DeSalles was sentenced after pleading guilty to the 2017 murder of Omid Gholian, who owned a jewelry store in Manhattan.
MajorsAug 12, 2026
Frederick Goldman Names New SVP of SalesLongtime industry executive Beth Miller has taken on the role.
AuctionsAug 11, 2026
Verdura Unicorn Brooch With Royal Connection Up for Auction The brooch was owned by Virginia Fortune Ryan Ogilvy, who served as a lady of the bedchamber to Queen Elizabeth II for nearly 50 years.
MajorsAug 11, 2026
Signet Jewelers Selects Mattel Exec to Lead Zales, BanterJamie Cygielman will take on the role on Aug. 24.
IndependentsAug 11, 2026
Polly’s Fine Jewelry Co-Owner Richard Moore Dies at 69Moore, Polly’s husband, is remembered as a family man with an easygoing spirit and a love for sports and the outdoors.
ColumnistsAug 11, 2026
Creative Connecting: How to Sell Colored Gemstones to Gen ZDuvall O’Steen and Jen Cullen Williams share the best ways to display, present, and explain colored gemstones to younger customers.
Events & AwardsAug 11, 2026
NAJA Announces Lineup For 2026 Fall Virtual ConferenceThe mid-year conference for jewelry and watch appraisers will take place Sept. 5-6 on Zoom.
TechnologyAug 10, 2026
Colorado Jeweler Launches Customization Tool He Built HimselfHonest Hands Ring Co. Founder Benjamin Bosworth shared his thoughts on jewelry technology and why AI can never replace the human element.
MajorsAug 10, 2026
QVC Exits Chapter 11 Bankruptcy, Names New Interim CEOQVC Group President and CEO David Rawlinson is temporarily being replaced by a familiar face, former QVC CEO Mike George.
CollectionsAug 10, 2026
State Property Puts a Ripple in the ‘The Voyager’ CollectionThe brand also added two one-of-a-kind brown diamond pieces to the “Sanssouci” series of its “Gardens” collection.
MajorsAug 10, 2026
And IJO’s 2026 Vendor of the Year Is … Ostbye took home top vendor honors at the Independent Jewelers Organization’s show, held last month in Kentucky.
Supplier BulletinAug 07, 2026
Why More Jewelry Retailers Are Hosting Turnkey Estate Buying EventsSponsored by Stratus Estate Buyers
MajorsAug 07, 2026
Retail Veteran Pam Cloud Appointed President of Blue NileCloud, who will officially join Blue Nile on Monday, spent 26 years at Tiffany & Co. and founded jewelry brand Roseate.
MajorsAug 07, 2026
Pandora Appoints Paulo Garcia as New CFO Garcia will take over from the company’s current CFO, Anders Boyer, who is retiring at the end of November.
