ColumnistsFeb 20, 2026
Peter Smith: Happiness, Cavemen, and Jewelry SalesSmith encourages salespeople to ask customers questions that elicit the release of oxytocin, the brain’s “feel-good” chemical.
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
CollectionsFeb 20, 2026
Boucheron’s ‘Faisceaux’ Brooch Heads to V&A MuseumThe brooch, our Piece of the Week, shows the chromatic spectrum through a holographic coating on rock crystal.
IndependentsFeb 19, 2026
Bailey’s Fine Jewelry Co-Founder ‘Mama Ann’ Bailey Dies at 100Raised in an orphanage, Bailey was 18 when she met her husband, Clyde. They opened their North Carolina jewelry store in 1948.
Brought to you by
The MJSA Mentor & Apprenticeship Program: Attracting & Training the Next Generation of Bench JewelersLaunched in 2023, the program will help the passing of knowledge between generations and alleviate the shortage of bench jewelers.
IndependentsFeb 19, 2026
Material Good Opens Third Location Material Good is celebrating its 10th anniversary as it opens its new store in the Back Bay neighborhood of Boston.
Weekly QuizFeb 19, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Events & AwardsFeb 19, 2026
The Original Miami Beach Antique Show Returns in MarchThe show will be held March 26-30 at the Miami Beach Convention Center.
AuctionsFeb 18, 2026
Joanna Carson’s Jewels Head to AuctionThe estate of the model, philanthropist, and ex-wife of Johnny Carson has signed statement jewels up for sale at John Moran Auctioneers.
Brought to you by
How Jewelers Can Fight Back Against Cell JammersCriminals are using cell jammers to disable alarms, but new technology like JamAlert™ can stop them.
PodcastsFeb 18, 2026
Episode 2: Jewelry Trends & Does the Red Carpet Matter?Are arm bands poised to make a comeback? Has red-carpet jewelry become boring? Find out on the second episode of the “My Next Question” podcast.
Policies & IssuesFeb 18, 2026
Community for Ethical Jewelry Looks for Executive DirectorThe organization is seeking a new executive director to lead it into its next phase of strategic growth and industry influence.
Events & AwardsFeb 18, 2026
DCA to Host Gemstone Selling Education Session at IJO EventThe nonprofit will present a live, two-hour introductory course on building confidence when selling colored gemstones.
TrendsFeb 17, 2026
A Bit of Jewelry for the Year of the HorseWestern wear continues to trend in the Year of the Fire Horse and along with it, horse and horseshoe motifs in jewelry.
SourcingFeb 17, 2026
Colored Gemstone Experts Talk Tariffs, Trends in TucsonAlthough the market is robust, tariffs and precious metal prices are impacting the industry, Stuart Robertson and Brecken Branstrator said.
GradingFeb 17, 2026
Dr. George Rossman, Former GIA Governor, Dies at 81Rossman, who advised GIA for more than 50 years, is remembered for his passion and dedication to the field of gemology.
CrimeFeb 13, 2026
JSA Offering $10K Reward in Nancy Guthrie Case Guthrie, the mother of “Today” show host Savannah Guthrie, was abducted just as the Tucson gem shows were starting.
IndependentsFeb 13, 2026
97-Year-Old New Mexico Jewelry Store To CloseButterfield Jewelers in Albuquerque, New Mexico, is preparing to close as members of the Butterfield family head into retirement.
CollectionsFeb 13, 2026
A ‘Rosebud’ Necklace for Valentine’s DayPaul Morelli’s “Rosebud” necklace, our Piece of the Week, uses 18-karat rose, green, and white gold to turn the symbol of love into jewelry.
MajorsFeb 13, 2026
JFC Announces New BeneficiariesThe nonprofit has welcomed four new grantees for 2026.
MajorsFeb 12, 2026
These 8 Saks Fifth Avenue Stores Are ClosingParent company Saks Global is also closing nearly all Saks Off 5th locations, a Neiman Marcus store, and 14 personal styling suites.
CollectionsFeb 12, 2026
British Museum Raises $5M to Keep Jewel Linked to Henry VIII, Katherine of AragonIt is believed the 24-karat heart-shaped enameled pendant was made for an event marking the betrothal of Princess Mary in 1518.
SourcingFeb 12, 2026
‘Cotton Candy’ Necklace, 35-Carat Kunzite Win 2025 ‘Buyer’s Choice’ AwardsThe AGTA Spectrum and Cutting Edge “Buyer’s Choice” award winners were announced at the Spectrum Awards Gala last week.
Events & AwardsFeb 12, 2026
Kering Opens Entries for 2026 Sustainability-Focused AwardThe “Kering Generation Award x Jewelry” returns for its second year with “Second Chance, First Choice” as its theme.
TrendsFeb 11, 2026
Halle Berry’s Retro Engagement Ring Is a Sapphire-Set StunnerSourced by For Future Reference Vintage, the yellow gold ring has a round center stone surrounded by step-cut sapphires.
MajorsFeb 11, 2026
Francesca’s Files for Chapter 11 Bankruptcy AgainThe clothing and accessories chain announced last month it would be closing all of its stores.
CollectionsFeb 11, 2026
Zales Turns Sweethearts Into Jewelry for Valentine’s Day CollectionThe “Zales x Sweethearts” collection features three mystery heart charms engraved with classic sayings seen on the Valentine’s Day candies.
TechnologyFeb 11, 2026
Gemvision Symposium 2026 Slated for AprilThe event will include panel discussions, hands-on demonstrations of new digital manufacturing tools, and a jewelry design contest.
Events & AwardsFeb 11, 2026
TJS Announces Roundtable, Launches New AppRegistration is now open for The Jewelry Symposium, set to take place in Detroit from May 16-19.
