CollectionsMar 25, 2026
Boochier Turns Flower Friendship Bracelets Into Fine JewelryThe “Flower Puff” collection looks to beaded flower friendship bracelets from childhood, turning the silhouette into nostalgic fine jewelry.
FinancialsNov 07, 2018
Pandora Cuts Guidance Again After Poor Q3, Weak Start to Q4
U.S. sales were down 12 percent, with strong sales online not enough to offset the company’s in-store performance.
Pandora introduced “Reflexions” in October, a mesh-style collection that features its first new bracelet in five years. The company said Tuesday amid poor third quarter results that Reflexions “has been very well received by the consumers.”
Copenhagen, Denmark—Pandora reported Tuesday that U.S. sales dropped alongside worldwide sales in Q3, causing the company to cut its fiscal guidance for the year again.
Total sales of Pandora jewelry in the United States fell 12 percent year-over-year in the third quarter to DKK 1 billion ($153.2 million).
Like-for-like sales rose 4 percent due to online sales, though the company noted that the performance of its e-commerce site was not enough to override slow in-store sales and the changing in the timing of shipments. The Christmas collection was in stores already in the third quarter 2017 but won’t ship until the fourth quarter this year.
Globally, Pandora saw revenue decrease 3 percent in local currency to DKK 5 billion ($765.8 million). Like-for-like sales growth also slipped 3 percent.
Gross margin fell from 74.2 percent to 72.3 percent, and EBITDA was DKK 1.4 billion ($214.4 million) down from DKK 2.0 billion ($306.3 million) in the third quarter 2017.
Revenue from Pandora-owned stores was up 34 percent in local currency, but that was due mainly to new store openings; like-for-like growth only increased 1 percent.
E-store sales grew 52 percent and now account for 8 percent of total revenue, up from 5 percent a year ago.
Revenue from the company’s wholesale channel fell 27 percent, impacted by Pandora buying back franchise stores over the past year and closing more accounts at independent jewelers, and wholesalers cutting back on inventory due to poor sales.
Following what Chief Financial Officer Anders Boyers called an “unsatisfactory” third quarter and a “weak” start to the fourth, the company lowered its expectations for the year.
It said it now expects full-year revenue growth of 2 to 4 percent, down from the 7 to 10 percent predicted at the beginning of the year and the revised forecast of 5 to 7 percent sales growth delivered in the second quarter.
Pandora also announced Tuesday it was launching a turnaround plan that includes buying back fewer franchise stores, opening new stores only in markets that are not oversaturated like China, India and Latin America, focusing on omnichannel and cutting costs companywide.
After laying out an ambitious plan that included aggressive store growth and branching out from its core beads and charm bracelets into new jewelry like plated karat gold pieces, the Copenhagen-headquartered company finds itself in a state of disarray.
Sales continue to disappoint and Pandora is searching for a new CEO; it
will be the company’s sixth leader since going public in 2010.
The last CEO, Anders Colding Friis, stepped down at the end of August after less than four years on the job. Boyers and Chief Operating Officer Jeremy Schwartz are running the company together until a replacement is found.
Following Friis’ departure, rumors began to swirl that a private equity firm will acquire Pandora and take it private.
The last CEO, Anders Colding Friis, stepped down at the end of August after less than four years on the job. Boyers and Chief Operating Officer Jeremy Schwartz are running the company together until a replacement is found.
Following Friis’ departure, rumors began to swirl that a private equity firm will acquire Pandora and take it private.
More on Financials
The Latest
Policies & IssuesMar 25, 2026
Community for Ethical Jewelry to Host Bench Jeweler Shortage WebinarSet for April 2, the webinar will discuss how the jewelry industry can address the workforce gap.
SourcingMar 25, 2026
Rob Bates Steps Down as JCK News Director After 28 years with JCK, the veteran industry journalist is launching his own publication on Substack called The Jewelry Wire.
Brought to you by
Protect Your Customers and Your BusinessYou deserve to know what you are selling–to protect your customers as well as your business and your reputation.
IndependentsMar 24, 2026
Lisa Bayer, Illustrator and Beloved Member of the Muse Family, Dies at 64Bayer, founder of Lisa Bayer Designs, is remembered as “a bright light in every room.”
Weekly QuizMar 19, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
AuctionsMar 24, 2026
White Diamonds Shine In Christie's Jewels Online SaleThe highest-grossing lot was a Tiffany & Co. ring set with a flawless, emerald-cut diamond of 10 carats.
SourcingMar 24, 2026
AGTA Solidifies Tucson Dates For 2027-2029The next three editions of AGTA GemFair Tucson will feature a five-day show that includes Sunday.
Brought to you by
Is This You? Every Jeweler Has This Problem; We Have the Solution.Every jeweler faces the same challenge: helping customers protect what they love. Here’s the solution designed for today’s jewelry business.
WatchesMar 24, 2026
Christie’s Names New Senior Specialist, WatchesFormer Sotheby’s executive Tom Heap has taken on the London-based role.
CrimeMar 23, 2026
NYPD Looking for 3 Jewelry Store Robbery SuspectsThe group of women allegedly robbed two Catbird stores and one Gorjana location on the afternoon of March 9.
TrendsMar 23, 2026
Marco Bicego’s New Campaign Showcases ‘The Art of Craft’After celebrating 25 years in 2025, the campaign marks a new chapter for the jewelry brand with the message that “Identity Creates Value.”
Events & AwardsMar 23, 2026
These Watch Brands Are Heading to Couture This YearCouture and Time to Watches announced the watch brands, from big names to independents, attendees will see at the show.
AuctionsMar 20, 2026
Sotheby's, De Beers Unveil ‘Jwaneng 28.88’ DiamondThe flawless, Type IIa stone is estimated to achieve up to $2.8 million at the auction house’s high jewelry sale in April.
TrendsMar 20, 2026
‘Frankenstein’ Costume Designer Is Bejeweled In Brooches for Oscars WinCostume designer Kate Hawley wore three archival Tiffany & Co. brooches, our Pieces of the Week, while accepting her first Oscar.
FinancialsMar 19, 2026
Signet Jewelers to Close 100 Stores, Shutter James Allen BannerThe jewelry retailer announced changes to its store network and brand portfolio during its fourth-quarter earnings call.
SurveysMar 19, 2026
NRF Forecasts 4% Retail Sales Growth in 2026From a weaker labor market to inflation, NRF Chief Economist Mark Mathews gave insight on what retailers can expect this year.
AuctionsMar 19, 2026
26-Carat Diamond Tops $1M at AuctionThe historic stone, which sold at Elmwood’s in London, is the largest white diamond to be offered on the U.K. market in more than a decade.
Events & AwardsMar 19, 2026
JCK Rocks To Ride With NellyThree-time Grammy award-winning artist Nelly is set to perform at the annual event at Tao Beach in Las Vegas on May 31.
AuctionsMar 18, 2026
Collection of the ‘Severely Beautiful’ Lady Wardington Fetches $161KThe model and fashion editor’s gold evening bags were the top lots at the London sale, going for more than $25,000 each.
PodcastsMar 18, 2026
Episode 3: An Interview With Jewelry Designer Johnny NelsonFresh off winning the David Yurman Gem Awards Grant, Nelson discusses the ring that launched his career and his plans for the future.
SourcingMar 18, 2026
Lucara Recovers Nearly 37-Carat Blue DiamondThe “stunning” Type IIb stone was found via x-ray technology at its Karowe mine in Botswana.
MajorsMar 18, 2026
Stuller Releases New Edition of Jewelry Education Book“The Basics of Jewelry” has been updated to include modern topics and visuals.
Events & AwardsMar 17, 2026
The Best Moments From the 2026 Gem Awards Held just before the Oscars, the jewelry industry’s big awards show had its share of standout jewelry, gowns, and acceptance speeches.
SourcingMar 17, 2026
Cruzeiro Mine Debuts ‘Winter Tourmaline’The Brazilian mine’s new collection features cabochons in soft, muted shades like silver and lilac.
TrendsMar 17, 2026
Natalie Portman Is Tiffany & Co.’s New AmbassadorThe Academy Award-winning actress stars in Tiffany & Co.’s latest commercial, which debuted Sunday night during the Oscars.
MajorsMar 17, 2026
Kering Establishes Jewelry Division, Appoints CEOThe organizational change follows Kering’s promise of a transformation after declining sales in 2025.
EditorsMar 16, 2026
2026 Oscars Jewelry: One Necklace After AnotherNatalie Francisco rounds up the top Oscars jewels, including Rose Byrne’s Taffin necklace with a more than 20-carat yellow-brown diamond.
