CollectionsSep 11, 2026
A Sapphire ‘Stardust’ Ring From Greenwich St. Jewelers The Latine-owned New York jeweler is marking two milestones this year: its 50th anniversary and the 25th anniversary of the 9/11 attacks.
MajorsAug 09, 2018
Pandora CEO Out After Company Cuts Forecast
Anders Colding Friis headed the company for less than four years.
Pandora CEO Anders Colding Friis will leave the company at the end of the month. His resignation comes less than a week after the company cut its earnings forecast for the year and announced layoffs.
Copenhagen, Denmark—Pandora CEO Anders Colding Friis is out after less than four years at the helm of the Danish bead and jewelry maker, which is grappling with lagging charm sales and rising production costs.
The announcement of his resignation came as the company reported weaker-than-expected results for the second quarter and just a few days after it cut its forecast for the year and announced plans to lay off a small percentage of its workforce, mainly in Thailand.
Friis joined the company in 2015 and was the one who outlined its four-year plan at Capital Markets Day in January, a plan that focuses on cutting production time to bring more new product to market quicker. He said the company’s assortments had become “too repetitive.”
On Thursday, the company said it remains “fully committed to this strategy” but will apparently do so with new leadership.
In addition to a new CEO, Pandora indicated that more changes could be on the way, as it looks to strengthen its management team and “reinforce” its board of directors with new appointees who have relevant retail experience.
Friis’ last day will be Aug. 31. On Sept. 1, the former CEO of The Body Shop, Jeremy Schwartz, will join Pandora as chief operating officer. He will run the company together with Chief Financial Officer Anders Boyers until a new CEO is found.
Pandora said Thursday that total second quarter sales were up 4 percent in local currency year-over-year to DKK 4.82 billion ($749.3 million) but like-for-like sales slipped 1 percent. In the United States, like-for-like sales were up 3 percent in the quarter.
EBITDA margin was 31.1 percent, compared with 33.4 percent in the second quarter 2017.
The Danish jewelry company saw sales growth from Pandora-owned stores (up 43 percent in local currency) and its online store (up 54 percent) but a reduction in orders from retailers that carry its merchandise hurt its overall performance.
Wholesale sales were down 23 percent year-over-year, impacted by both slower sales and stores reducing their Pandora inventory.
In addition, Pandora said while sales of other jewelry grew in the quarter, the new charms it introduced are “not fueling the re-ignition of charms revenue as anticipated.”
“Performance in other points of sale (wholesale) is challenged as the channel is mainly dependent on charms and does not distribute new concepts like Pandora Shine,” the company noted, referring to the all-gold
line introduced earlier this year.
Pandora said it now plans to open about net 250 concept stores this year, up from 200. Two-thirds of those (167) will be Pandora-owned stores.
One-quarter (63) of the 250 net new concept stores will open in the America market.
Pandora said it now plans to open about net 250 concept stores this year, up from 200. Two-thirds of those (167) will be Pandora-owned stores.
One-quarter (63) of the 250 net new concept stores will open in the America market.
More on Majors
The Latest
ColumnistsSep 11, 2026
Sherry Smith: Stop Waiting for December to Save Your ChristmasThe stores that have a great December are the ones that made good decisions in August, September, and October, Sherry Smith writes.
Events & AwardsSep 11, 2026
The Edge Awards Scholarships to 2 Young Jewelry ProfessionalsThe recipients were recognized at the 24 Karat Club of the Southeastern United States’ annual banquet.
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.
CrimeSep 10, 2026
FBI Offers $50K Reward for ‘Most Wanted’ Fugitive in $1M Jewelry HeistAlberto Perez-Elias is one of four men charged in the armed robbery of a Cape Coral, Florida, jewelry store and remains at large.
Weekly QuizSep 10, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
AuctionsSep 10, 2026
Massive Matched Pair of Paraíba Tourmalines Head to Sotheby’sThe “Kat Florence Luminas” will be offered together as one lot and could fetch up to $637,000.
SourcingSep 10, 2026
AGTA Announces 4 Newly Elected DirectorsFour directors were elected to the AGTA board and will serve three-year terms beginning in February.
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.
AuctionsSep 10, 2026
Former Sotheby’s, Christie’s Exec Appointed CEO of Julien’s Auctions Ken Citron joins the celebrity memorabilia-focused auction house ahead of its first week-long series of events in Abu Dhabi.
FinancialsSep 09, 2026
Signet Jewelers to ‘Double Down’ on Blue Nile Amid Strong SalesThe jewelry retailer said it sees opportunity at higher price points, particularly in natural diamonds for bridal and fashion.
IndependentsSep 09, 2026
Sarah Leonard Fine Jewelers Closes After Nearly 80 YearsThe Los Angeles-based, family-owned jeweler was founded by Lenny and Sunny Friedman in 1946.
SourcingSep 09, 2026
Fura Gems Notes ‘Remarkable’ Interest in Larger Rubies at Latest SaleThe auction, held in Bangkok, was 96 percent sold by lot, with nearly 411,000 carats of Mozambiquan rubies sold.
MajorsSep 09, 2026
Stuller’s Latest Catalog Includes Its New Demi-Fine CollectionFine Jewelry 2027-2028 has more than 900 new styles, including silver, gold-filled, gold-plated sterling silver, and vermeil jewelry.
Policies & IssuesSep 09, 2026
8 Key Changes the FTC Made to the Jewelry Guides: A Refresher Learn more about the new terms for lab-grown diamonds and composite gemstones, and the major changes in store for precious metals jewelry.
IndependentsSep 08, 2026
Ricky Bromberg, Longtime President of Bromberg & Co., Dies at 67 Bromberg is remembered as a Southern gentleman who always wore a suit and tie and treated others with kindness.
TrendsSep 08, 2026
Amanda’s Style File: A Hot Take on September’s Birthstone With high durability and a wide range of colors to choose from, sapphires may be the ultimate birthstone, Gizzi claims.
ColumnistsSep 08, 2026
Peter Smith: Humor Is No Laughing MatterLaughter is often considered a distraction in the workplace, but it has benefits for both staff and management, Peter Smith writes.
MajorsSep 08, 2026
Former Tiffany & Co. Exec Joins Exemplar Luxury GroupGretchen Koback Pursel is the new chief people officer at the company formerly known as Saks Global.
IndependentsSep 04, 2026
Orloff Jewelers Will Soon Unveil a Bigger, Better LocationThe California jeweler is renovating its store in Fresno, with plans to show off the new space in December.
CollectionsSep 04, 2026
Chelsea Gabrielle Transforms Pilates Reformer Springs Into Ring A lifelong practitioner of Pilates, Gabrielle looked to the springs’ tension and suspension when creating this ring, our Piece of the Week.
Events & AwardsSep 04, 2026
JCK Industry Fund Accepting 2027 ApplicationsThe deadline to apply is Nov. 13.
AuctionsSep 04, 2026
Christie's Names New Global Head of WatchesThe auction house has promoted Remi Guillemin, formerly its head of watches for the Americas and EMEA, to the role.
EditorsSep 03, 2026
Q&A: Simon G.’s CEO on Why He Won’t Use AI for Jewelry DesignZaven Ghanimian discussed the value of human craftsmanship and where the implementation of artificial intelligence does work.
Events & AwardsSep 03, 2026
Here Are the First Recipients of Nina Pugliese Memorial Scholarship Jewelers of America also revealed the recipients of the Seymour & Evelyn Holtzman Bench Scholarship and its own scholarship programs.
WatchesSep 03, 2026
Robert Pattinson Joins Jaeger-LeCoultre as Brand AmbassadorThe British actor, known for his roles in “Twilight” and “The Odyssey,” will star in a campaign for the Master Control Chronometre.
CollectionsSep 03, 2026
Sydney Evan Celebrates 25 Years With 4 New CollectionsThe “Confetti Disco,” “Champagne Cheers,” “Tuxedo,” and “Classic Punk” jewelry collections each capture a distinct spirit of celebration.
CrimeSep 02, 2026
CA Jeweler Gets 5 Years in ‘Phantom Rolex’ Ponzi SchemeNelson Holdo of Newport Beach pleaded guilty to multiple counts of felony grand theft and writing bad checks and was sentenced Monday.
