The company is focused on modernizing the custom jewelry buying experience with e-commerce tools like product visualization and 3D styling.
Pandora to Close 50 Stores Following Weak Q1 Results
Quarterly revenue in the United States fell 12 percent as charm demand waned.

Copenhagen, Denmark—Pandora had a rough start to its fiscal year, reporting weak first quarter results as slowing demand for its charms sent like-for-like sales tumbling.
Quarterly revenue totaled 4.80 billion Danish kroner ($719 million), slipping 6 percent compared with 5.12 billion kroner ($820.5 million) in the previous first quarter.
Like-for-like in-store sales were down 10 percent as foot traffic fell 14 percent.
The in-store sales decline mainly occurred at jewelry stores and other outlets that carry Pandora, rather than at the company’s own stores, Q1 results show.
Revenue from company-owned retail outlets was up 16 percent in the quarter, accounting for 64 percent of its total sales. Wholesale, which accounted for 31 percent of total sales, decreased 34 percent in the quarter.
Online sales rose 7 percent. Pandora’s online store generated 10 percent of total revenue in the quarter with almost 1 million orders placed.
On a regional basis, quarterly revenue in the U.S. dipped 12 percent to 977 million DKK ($146 million).
Revenue in the Americas overall, which includes Canada, Latin America and the Caribbean as well as the United States, was down 5 percent.
Revenue from the EMEA region, which includes Europe, the Middle East, and Africa, declined 11 percent while sales in the Asia-Pacific region fell 6 percent.
China was one of the only regions to see revenue growth, up 15 percent in the first quarter. Pandora released a 15-piece Peach Blossom collection, exclusively available in China, in April.
Breaking it down by category, Pandora’s charms are still its bread and butter, accounting for 51 percent of its sales, but their popularity seemingly continues to wane.
Revenue from its charms segment sank 17 percent in the first quarter, while the necklaces and pendants segment saw double-digit growth, up 14 percent in the quarter.
Revenue from rings and earrings were also on the rise in the low-to-mid single digits while bracelets, a carrier for the charms, saw a slight dip in revenue.
Pandora is in the midst of Programme NOW, its two-year turnaround plan that aims to cut costs and revitalize the brand.
On Tuesday, the company announced it will close 50 “low-margin” concept stores, including those that are not profitable or diluting margins.
“The brand as well as the company has reached a point of maturity and it is not without some serious challenges,” new CEO Alexander Lacik said in the company’s earnings release. “The recently announced transformation Programme NOW, which I fully support, is a
Also as part of the transformation plan, Pandora will reduce the size of its sell-in packages, buy back inventory from wholesale partners and run fewer sales.
The company said it has saved 100 million DKK so far, scaling back on everything from consultancy costs and employee benefits to workforce scheduling and lease agreements.
Pandora Chief Financial Officer Anders Boyer noted that while the first quarter “emphasizes the need for our planned brand relaunch,” the company’s initial commercial pilots and marketing tests show “good results.”
The company’s fiscal year financial guidance remains the same, with organic growth expected to decline 3-7 percent with like-for-like sales improving slightly.
The Latest

Following its recent acquisition, the storied brand has updated its leadership team and regional managers.

AGS also named the recipient of its “Women in Leadership” scholarship.

The Seymour & Evelyn Holtzman Bench Scholarship from Jewelers of America returns for a second year.

The 20-karat yellow gold and diamond wrap ring is modeled after the Monstera plants in the garden of the brand’s Miami villa.


Rocksbox President Allison Vigil shared the retailer’s expansion plans, and her thoughts on opening stores in malls.

The creator of the WJA Chicago chapter is remembered as a champion for women in the jewelry industry and a loving grandmother.

The countdown is on for the JCK Las Vegas Show and JA is pulling out all the stops.

The decline was consistent across age groups and almost all income groups, with tariffs and inflation still top of mind.

The “Playlist: Electric Dreams” collection brings lyrics from the musician’s song, “Little Wing,” to life through fine jewelry.

The event is set for May 16-19 in Detroit, Michigan.

The Vault’s Katherine Jetter is accusing the retailer of using info she shared for a potential partnership to move into Nantucket.

Agents seized 2,193 pieces, a mix of counterfeit Cartier “Love” and “Juste Un Clou” bracelets, and Van Cleef & Arpels’ “Alhambra” design.

The designer brought her children’s book, “The Big Splash Circus,” to life through a collection of playful fine jewelry characters.

The trade association has chosen the recipients of the funding initiative it formed to foster the growth and sustainability of the industry.

The organization has also announced this year’s slate of judges.

Associate Editor Natalie Francisco shares 20 additional pieces that stood out to her at the Couture show.

Lori Tucker started at Williams Jewelers when she was 18 years old.

The “Marvel | Citizen Zenshin” watch is crafted in Super Titanium and has subtle nods to all four “Fantastic Four” superheroes on the dial.

The “XO Tacori” collection was designed to blend luxury and accessible pricing.

Pritesh Patel, the lab’s chief operating officer, will take over as president and CEO of GIA.

National Jeweler and Jewelers of America discuss the standout jewelry trends and biggest news to emerge from the shows this year.

Signatories to the “Luanda Accord” committed to allocating 1 percent of annual diamond revenue to the Natural Diamond Council.

The winning designs captured the “Radiance” theme.

Nominations in the categories of Jewelry Design, Media Excellence, and Retail Innovation will be accepted through July 30.

The singer’s ring ticks off many bridal trends, with a thick band, half-bezel setting, and solitaire diamond.

The bracelet references vintage high jewelry and snake symbolism as a playful piece where a python’s head becomes a working belt buckle.