PodcastsApr 15, 2026
Episode 4: The Natural Diamond DilemmaSally Morrison and Mark Klein discuss De Beers’ first beacon in 16 years and the mistake the industry made with lab-grown diamonds.
FinancialsAug 20, 2019
Pandora’s Q2 Sales Dip Ahead of Brand Relaunch
The Danish jewelry company’s turnaround plan includes revamped stores, a redesigned logo, a new slogan and a simplified portfolio.
Revenue from Pandora’s beads and charms declined in the second quarter. The upcoming autumn collection will include an O-shaped pendant, giving consumers the ability it wear its beads, like the one pictured above, and charms on a necklace or clip them onto bags or jeans. (Photo courtesy of Pandora)
Copenhagen, Denmark—Pandora’s like-for-like in-store sales fell double digits in the second quarter, including a 6 percent decline in the United States.
Quarterly revenue totaled 4.69 billion Danish kroner ($697.2 million), slipping 3 percent compared with 4.82 billion kroner ($716 million) in the second quarter of last year.
Like-for-like in-store sales were down 10 percent as foot traffic declined. In contrast, like-for-like online sales jumped 22 percent.
As in the first quarter, in-store sales saw a greater decline at the wholesale level (down 14 percent) than at Pandora-owned retail stores (down 7 percent).
By market, quarterly revenue in the U.S. was flat at 1.04 billion DKK ($154.4 million) while like-for-like sales fell 6 percent. The U.S. remains Pandora’s top market, accounting for 22 percent of global revenue.
Quarterly revenue in China was up 9 percent while like-for-like sales fell 4 percent. Pandora released a 15-piece Peach Blossom collection exclusive to the Chinese market in April followed by a pop-up shop marketed via WeChat, a popular Chinese messaging app.
The company saw improvement in the key markets of the United Kingdom and Italy after increasing marketing efforts in the areas, including more social media and TV campaigns.
Like-for-like sales in the U.K. were down 8 percent in the second quarter while like-for-like sales in Italy dipped 10 compared.
Following the positive results, Pandora said it plans to increase its marketing investments in France and Australia in the second half of fiscal 2019.
By category, bracelet sales were down 2 percent while ring sales dipped 6 percent.
Revenue from its necklaces and pendants segment sank 14 percent in the second quarter despite seeing double-digit growth in the first quarter.
The earrings segment was the only category to see growth, increasing 1 percent.
Pandora said Tuesday that it plans to simplify its product portfolio, reducing its offerings by approximately 30 percent.
The company said since 2015, it has consistently added more designs than it has discontinued leaving it, simply, with too much product that isn’t selling.
“As an example we have, I think, 150 different variations of a heart on a charm. And when you speak to customers, they clearly don’t see the incremental value,” CEO Andrew Lacik said in an interview with Reuters.
In a company presentation, Pandora pointed to a “blurred” brand experience, weak initiatives on charm collecting, executional inconsistency, and “overpush,” which refers to increased promotional activity that leads consumers to wait for the next sale rather than pay full price, as its main problems.
The
Danish jewelry company’s shares were on the rise following the release of its second-quarter results Tuesday despite the double-digit dip in like-for-like sales.
“I think that investors are reacting to the correct diagnosis of the challenges in the company,” Sydbank analyst Søren Løntoft Hansen told Reuters.
For the year ahead, Pandora affirmed its fiscal year financial guidance, expecting organic growth to decline 3-7 percent with like-for-like sales improving slightly.
The company is in the midst of Programme NOW, its two-year turnaround plan that aims to cut costs and revitalize the brand.
On Tuesday, Pandora upped the estimated spend on its restructuring to around 2 billion Danish kroner ($297.1 million), compared with the previous estimate of 1.5 billion Danish kroner ($222.9 million).
The company will kick off its brand relaunch on Aug. 28 with an event in Los Angeles, unveiling its new products and revamped store layout and design.
As its charms segment continues to decline, the upcoming autumn collection will include the “O carrier,” a pendant that will allow consumers to wear their Pandora charms on a necklace or clip them onto bags or jeans.
The brand will also introduce a new logo, monogram, company marker and slogan: “We give a voice to people’s loves – Passions, People & Places.”
The store redesign rollout will take place over the second half of 2019 into next year, with the first rebranded store openings in the U.K. followed by stores in key markets including China and Italy.
“I think that investors are reacting to the correct diagnosis of the challenges in the company,” Sydbank analyst Søren Løntoft Hansen told Reuters.
For the year ahead, Pandora affirmed its fiscal year financial guidance, expecting organic growth to decline 3-7 percent with like-for-like sales improving slightly.
The company is in the midst of Programme NOW, its two-year turnaround plan that aims to cut costs and revitalize the brand.
On Tuesday, Pandora upped the estimated spend on its restructuring to around 2 billion Danish kroner ($297.1 million), compared with the previous estimate of 1.5 billion Danish kroner ($222.9 million).
The company will kick off its brand relaunch on Aug. 28 with an event in Los Angeles, unveiling its new products and revamped store layout and design.
As its charms segment continues to decline, the upcoming autumn collection will include the “O carrier,” a pendant that will allow consumers to wear their Pandora charms on a necklace or clip them onto bags or jeans.
The brand will also introduce a new logo, monogram, company marker and slogan: “We give a voice to people’s loves – Passions, People & Places.”
The store redesign rollout will take place over the second half of 2019 into next year, with the first rebranded store openings in the U.K. followed by stores in key markets including China and Italy.
More on Financials
The Latest
MajorsApr 15, 2026
Spark Creations’ Randy McKenzie Dies at 72 McKenzie spent 45 years with Spark Creations and is remembered for being kind, dedicated, and hardworking.
WatchesApr 15, 2026
These Are the New Rolex Watches for 2026Rolex focused exclusively on the Oyster Perpetual this year, as the model is celebrating its 100th anniversary.
Brought to you by
Discover Timeless Treasures: A Showcase of Antique Jewelry & Timepieces in Las VegasGain access to the most exclusive and coveted antique pieces from trusted dealers during Las Vegas Jewelry Week.
SourcingApr 15, 2026
Diamond Club West Coast Names 2026 BoardKalpesh Jhaveri was re-elected as president for a third year.
Weekly QuizApr 09, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
TechnologyApr 15, 2026
This Jewelry Brand’s Video Series Is Up for a Webby Award“Diamond Divas,” a social media reality series by Shahla Karimi Jewelry, is nominated in the “Best Social: Fashion & Beauty” category.
SourcingApr 14, 2026
De Beers Expands ‘Desert Diamonds’ Beacon Into BridalThe campaign seeks to reignite desire for natural diamond engagement rings by highlighting the “distinct character” of warm-toned diamonds.
Brought to you by
Las Vegas Antique Jewelry & Watch Show: Showcasing the Most Collectible Merchandise from Across the GlobeGain access to the most exclusive and coveted antique pieces from trusted dealers during Las Vegas Jewelry Week.
SourcingApr 14, 2026
International Jade Summit to Return to MontereyPresented by Mason-Kay Jade, the summit, in its second year, will again be held during the Monterey Bay Jade Festival.
Events & AwardsApr 14, 2026
CBG Releases Details for Las Vegas ShowThe group has announced its lineup of speakers and a new “Rising Stars” pavilion.
CollectionsApr 13, 2026
Uniform Object’s New Jewelry Collection Centers on the ‘Carbon Form’The “Carbon Form” collection explores the contrast between high and low materials, using rubber cord alongside 18-karat gold and gemstones.
Events & AwardsApr 13, 2026
JA Accepting 2026 Impact Initiative ApplicationsThe program provides essential funding to organizations for projects that enhance the jewelry industry.
Events & AwardsApr 13, 2026
Couture Announces New Show in MiamiThe jewelry trade show is launching its first open-to-the-public event in Coconut Grove this November.
CrimeApr 13, 2026
JSA Offers Reward in Oregon Jewelry Store Armed RobberyJSA is seeking information about the gunpoint robbery of a Kay Jewelers location in Oregon’s Washington Square Mall.
WatchesApr 10, 2026
These Watches Have Increased in Value the Most Since 2018, Says Chrono24The top-performing watch models may be surprising, with Rolex and several popular pandemic-era picks notably absent from the top 20.
CollectionsApr 10, 2026
Ophelia Eve’s Toggle Pendant Holds Your SecretsThe “Scroll” toggle pendant, our Piece of the Week, opens to reveal a hidden message, mantra, or love letter written on washi paper.
ColumnistsApr 09, 2026
Jewelry Demand Isn’t Stronger, Prices Are Just Higher Jewelers who misinterpret the state of the jewelry market risk employing the wrong retail strategy, cautions columnist Sherry Smith.
MajorsApr 09, 2026
Tiffany & Co. Promotes Nathalie Verdeille to SVP, Chief Artistic OfficerIn her newly expanded role, she will continue to oversee the jewelry category, as well as watches, home, and accessories.
WatchesApr 09, 2026
Jacob & Co. Rolls Out Its Sequel to ‘The Godfather’ Musical Watch“The Godfather II” watch plays two melodies from the mob film’s score, “The Godfather’s Waltz” and “The Godfather Love Theme.”
Events & AwardsApr 09, 2026
JCK Announces Jesse Itzler as 2026 Keynote SpeakerOrganizers have also introduced the new JCK Talks Signature Series, as well as an offering of watch-focused workshops and lectures.
SourcingApr 09, 2026
AGA To Honor ‘Quiet Leadership’ With New AwardThe Alan Hodgkinson Medal recognizes gemologists who are consistently generous with their time and expertise.
WatchesApr 09, 2026
Oris Names New CEO, CFOThe Swiss watchmaker is changing up its executive leadership team as part of a restructuring.
CollectionsApr 08, 2026
Hearts On Fire Celebrates 30 Years By Asking a QuestionThe “What’s Your Signature?” campaign invites women to think about how they see themselves.
SourcingApr 08, 2026
Sale of 42-Carat Blue Diamond Gives Petra a Boost in Q3The big diamond’s sale added to the company’s revenue though the market remains “challenging” overall, particularly for smaller goods.
Events & AwardsApr 08, 2026
AGS Confluence Returns with AI, Sustainability SessionsRob Bates of The Jewelry Wire will also moderate a panel on the state of the jewelry industry during the virtual event.
Events & AwardsApr 08, 2026
TJS to Honor 2 Longtime Former Stuller EmployeesThe Jewelry Symposium will honor two industry veterans with lifetime achievement awards at its upcoming May event.
TrendsApr 08, 2026
Amanda’s Style File: April’s Brilliant Birthstone With their durability, brilliance, and beauty, diamonds are the perfect stone for everyday birthstone jewelry.
