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
SurveysAug 21, 2026
These Are 2026’s Hottest Retailers, Says NRFThe retailers at the top of the list offer affordable products and fun, discovery-fueled experiences.
WatchesAug 21, 2026
Bremont Names Former Vacheron Constantin Exec CMODaniel Bing was formerly the marketing director for the Americas at Vacheron Constantin.
CollectionsAug 21, 2026
Bijules, Kamyen Serve Up ‘Topspin’ Tennis Bracelet Ahead of US OpenIn our Piece of the Week, the designers reimagine the tennis bracelet with green enamel wrapped around a strand of “Desert Diamonds.”
Brought to you by
Your Piece Could Be the One Editors Talk AboutSubmit your pieces for a chance to win in this year's competition.
PodcastsAug 20, 2026
Episode 8: Diamond Industry Update With David Bonaparte & Ronnie VanderLindenThe industry veterans join the podcast to discuss diamond marketing, the FTC Jewelry Guides, and lobbying for lower tariffs.
Weekly QuizAug 20, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
TechnologyAug 20, 2026
A New AI-Powered Gemstone Identification App Is HereFounder Vik Westermann said the app is a “starting point” to inspire people to work with appraisers and gem labs, not replace them.
AuctionsAug 20, 2026
Storied Unicorn Brooch Up for Auction Gallops to New Home The Verdura brooch, which belonged to the late Virginia Fortune Ryan Ogilvy, was sold to a private collector in Asia.
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.
Events & AwardsAug 20, 2026
MJSA Education Foundation Names 5 Scholarship WinnersThe five students were awarded a total of $10,000 through the nonprofit’s 2026 “Future of Jewelry Making” scholarship.
MajorsAug 20, 2026
Plumb Club Elects 2026-2027 BoardSteven Lerche is now beginning his term as the youngest member to become president of The Plumb Club’s elected executive committee.
MajorsAug 19, 2026
Mike Alexander To Succeed Scott Murphy as Jewelers Mutual CEO Murphy will retire at the end of the year and Alexander, currently the company’s president, will take over at the start of 2027.
Policies & IssuesAug 19, 2026
Spinelli Kilcollin Embraces Dupes With Trade-In ProgramThe jeweler is encouraging customers who own lookalike rings to come into the store and trade them for credit towards an authentic piece.
MajorsAug 19, 2026
Zales Wants You to Wear Fine Jewelry Every DayThe new campaign, “You Are The Occasion,” discourages shoppers from saving their fine jewelry for special occasions only.
SourcingAug 19, 2026
Vasant Mehta, a Dedicated Diamond Industry Leader, Dies at 81Mehta led India’s GJEPC through the 2008 financial crisis and was respected worldwide for his wisdom, integrity, and knowledge.
CrimeAug 18, 2026
2 California Men Arrested in Fatal Vehicle Smash RobberyOne is the driver who allegedly crashed a car into a Sacramento jewelry store in April, striking a 71-year-old employee who later died.
ColumnistsAug 18, 2026
Peter Smith: The IKEA Effect and Bridal Branding In a new column, Peter Smith posits that people actually enjoy putting together IKEA furniture, and the same is true for engagement rings.
CrimeAug 18, 2026
Thieves Snatch $1M in Jewelry From New Jersey Jeweler9lakha Jewelers in Iselin, New Jersey, was the target of a smash-and-grab robbery on Aug. 8.
Lab-GrownAug 18, 2026
Ring Concierge, Kendall Jenner’s Tequila Brand Collab on GiveawayThe jeweler has partnered with 818 Tequila to gift lab-grown diamond studs to a bride-to-be and their bridal party.
Events & AwardsAug 17, 2026
Exhibition on Louis Comfort Tiffany’s Studios to Open at The MetThe exhibition will feature more than 100 drawings of stained-glass lampshades, windows, and more, many created by women and émigrés.
CollectionsAug 17, 2026
Marquise Diamonds Dance in Spinelli Kilcollin’s ‘Wren’ CollectionMarquise-cut diamonds in drop charms are the center of the new collection, reflecting the movement of a dancer in modular styles.
Events & AwardsAug 17, 2026
There’s a New Jewelry Show Coming to FloridaThe inaugural Fort Lauderdale Jewelry, Antique, & Object Show will be held from Jan. 28 through Feb. 1, 2027.
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.
Supplier BulletinAug 13, 2026
Your Piece Could Be the One Editors Talk AboutSponsored by American Gem Trade Association
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.
