CollectionsJan 09, 2026
Piece of the Week: Lionheart’s ‘Serenity’ Opal CharmThe “Serenity” charm set with 13 opals is a modern amulet offering protection, guidance, and intention, the brand said.
FinancialsNov 05, 2019
Pandora Lowers Yearly Outlook Following Rough Q3
Like-for-like sales were down across its top seven markets, including a 9 percent dip in the United States.
Sales of Pandora’s charms were down 12 percent year-over-year in the third quarter.
Copenhagen, Denmark—Pandora had a rough third quarter and has lowered its financial outlook for the year as the cost of its brand relaunch and weak sales in China weigh heavy on its balance sheet.
Like-for-like sales dipped 10 percent year-over-year, including double-digit declines in key markets such as the U.K. and China. (Like-for-like represents true comparable sales out of stores that have been open for at least a year, excluding currency fluctuations.)
Quarterly revenue totaled 4.42 billion Danish kroner ($656.63 million), falling 11 percent compared with 4.98 billion kroner ($740.85 million) in the third quarter of last year.
“The deliberate actions of the commercial reset hurt our short-term financial performance, but it’s unquestionably the right thing to do,” CEO Alexander Lacik said in an earnings call Tuesday morning.
“We will exit 2019 in much better shape in key areas with less dependence on promotions, more balanced inventory levels, and a more efficient product assortment.”
Like-for-like online sales jumped 12 percent, accounting for 10 percent of total revenue, slightly higher than the 8 percent in the previous third quarter.
Total revenue in the United States fell 14 percent year-over-year while like-for-like sales sank 9 percent. The U.S. remains Pandora’s top market, accounting for 20 percent of global revenue.
Pandora attributed the weak performance in the U.S. to a reduction of promotional activity—it cut back on the number of sale days by 40 percent—but noted that adjusting for the reduction, like-for-like sales were “in line with the overall retail traffic development in the U.S.”
Organic growth— sales into stores (sell-in) plus sales from newly opened stores (also excluding currency fluctuations)— in the U.S. sank 18 percent, which the company said represents a “significant reduction” in inventory among its wholesale partners, which was larger than it expected this quarter.
Pandora described its performance in China as “disappointing,” seeing a 7 percent dip in total revenue and a 16 percent drop in like-for-like sales.
Double-digit growth in sales on Tmall, a popular e-commerce site, was offset by weak sales for Chinese Valentine’s Day this August. The holiday accounts for around 32 percent of its third-quarter revenue, Pandora said.
The company has responded with a “Win-in-China” initiative, an element of its Programme Now turnaround effort, which includes commercial initiatives, like brand positioning, and optimizing its media spend.
Like-for-like sales were down across the board in Pandora’s top seven markets, including a 10 percent dip in the U.K., its second-largest market by revenue share,
and a 12 percent dip in Italy.
By category, sales of charms fell 12 percent year-over-year while sales of bracelets and rings were both down 13 percent.
Revenue from its earrings and necklaces and pendants segments slipped 6 percent.
Looking ahead, Pandora lowered its financial guidance for the full year, forecasting negative organic revenue growth in the 7 to 9 percent range, compared with its previous guidance of a 3 to 7 percent decline.
The company attributed the change in part to higher-than-expected cuts in inventory levels with its wholesale partners.
In a press release, Lacik called the third quarter “an important milestone for Pandora,” noting consumers have responded positively to the company’s rebranding initiatives, adding that Pandora is expecting “solid” Christmas sales.
“We continue to believe that we will see an improvement in like-for-like in Q4, although the exact magnitude is clearly subject to uncertainty,” he said.
In addition to its quarterly results, Pandora announced Monday the nomination of Peter Ruzicka as its new member and chair of its board of directors.
His appointment is subject to election at its general meeting, which is scheduled for Dec. 4.
By category, sales of charms fell 12 percent year-over-year while sales of bracelets and rings were both down 13 percent.
Revenue from its earrings and necklaces and pendants segments slipped 6 percent.
Looking ahead, Pandora lowered its financial guidance for the full year, forecasting negative organic revenue growth in the 7 to 9 percent range, compared with its previous guidance of a 3 to 7 percent decline.
The company attributed the change in part to higher-than-expected cuts in inventory levels with its wholesale partners.
In a press release, Lacik called the third quarter “an important milestone for Pandora,” noting consumers have responded positively to the company’s rebranding initiatives, adding that Pandora is expecting “solid” Christmas sales.
“We continue to believe that we will see an improvement in like-for-like in Q4, although the exact magnitude is clearly subject to uncertainty,” he said.
In addition to its quarterly results, Pandora announced Monday the nomination of Peter Ruzicka as its new member and chair of its board of directors.
His appointment is subject to election at its general meeting, which is scheduled for Dec. 4.
More on Financials
The Latest
CollectionsJan 08, 2026
Pandora’s New ‘Bridgerton’ Jewels Celebrate Bees, Bows, and Blooms“Bridgerton” actresses Hannah Dodd and Claudia Jessie star in the brand’s “Rules to Love By” campaign.
Events & AwardsJan 08, 2026
Ana Khouri To Receive 2026 Gem Award for High Jewelry ExcellenceFounded by jeweler and sculptor Ana Khouri, the brand is “expanding the boundaries of what high jewelry can be.”
Brought to you by
Impacting Tomorrow TodayHow Jewelers of America’s 20 Under 40 are leading to ensure a brighter future for the jewelry industry.
TrendsJan 08, 2026
Stuller’s Color of the Year Is a Stark Contrast to Pantone’s WhiteThe jewelry manufacturer and supplier is going with a fiery shade it says symbolizes power and transformation.
Weekly QuizJan 08, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CollectionsJan 08, 2026
Gracie Abrams To Front New Chanel Jewelry CampaignThe singer-songwriter will make her debut as the French luxury brand’s new ambassador in a campaign for its “Coco Crush” jewelry line.
MajorsJan 08, 2026
Diamond Council of America Names New Board DirectorsThe nonprofit’s new president and CEO, Annie Doresca, also began her role this month.
Brought to you by
Roseco Releases New Full-Line CatalogRoseco’s 704-page catalog showcases new lab-grown diamonds, findings, tools & more—available in print or interactive digital editions.
ColumnistsJan 07, 2026
Peter Smith: Physical Retail—The Beginning or the End?As the shopping mall model evolves and online retail grows, Smith shares his predictions for the future of physical stores.
Events & AwardsJan 07, 2026
Melee Adds 13 New Designers to NYC ShowThe trade show is slated for Jan. 31-Feb. 2 at The Lighthouse in New York City's Chelsea neighborhood.
TrendsJan 07, 2026
Amanda’s Style File: Go for GarnetJanuary’s birthstone comes in a rainbow of colors, from the traditional red to orange, purple, and green.
SourcingJan 07, 2026
Diamonds Do Good Releases 2025 Impact ReportThe annual report highlights how it supported communities in areas where natural diamonds are mined, crafted, and sold.
CrimeJan 06, 2026
2 Jewelers Arrested After TraxNYC Diamond District BrawlFootage of a fight breaking out in the NYC Diamond District was viewed millions of times on Instagram and Facebook.
MajorsJan 06, 2026
Rio Grande Says These Are the Top Personalization Tools for 2026The supplier has a curated list of must-have tools for jewelers doing in-house custom work this year.
MajorsJan 06, 2026
Zales Tests Out A New LookThe Signet Jewelers-owned store, which turned 100 last year, calls its new concept stores “The Edit.”
MajorsJan 06, 2026
LeachGarner Appoints New Director of SalesLinda Coutu is rejoining the precious metals provider as its director of sales.
SourcingJan 06, 2026
AGA Announces 2026 BoardThe governing board welcomed two new members, Claire Scragg and Susan Eisen.
TrendsJan 05, 2026
Amanda’s Style File: New Year’s EditionSparkle with festive diamond jewelry as we celebrate the beginning of 2026.
IndependentsJan 05, 2026
Jeweler Ben Nighthorse Campbell Dies at 92The master jeweler, Olympian, former senator, and Korean War veteran founded the brand Nighthorse Jewelry.
TrendsJan 05, 2026
Pinterest 2026 Trend Report: Brooches, Bold Gold, Cool BlueIn its annual report, Pinterest noted an increase in searches for brooches, heirloom jewelry, and ‘80s luxury.
MajorsJan 02, 2026
Marc Metrick Out as CEO of Saks Global Executive Chairman Richard Baker will take over the role as rumors swirl that a bankruptcy filing is imminent for the troubled retailer.
Events & AwardsJan 02, 2026
Jan Mohr, Couture’s ‘North Star,’ Dies at 71Mohr had just retired in June after more than two decades as Couture’s retailer liaison.
SourcingJan 02, 2026
IDCA Elects New President, Board of DirectorsShekhar Shah of Real Gems Inc. will serve as president of the Indian Diamond & Colorstone Association in 2026.
CollectionsJan 02, 2026
Lalaounis’ 2026 Good Luck Charm Speaks to ResilienceThis year’s good luck charm features the mythical horse Pegasus, and is our first Piece of the Week of the new year.
EditorsDec 31, 2025
The Top 5 Stories of 2025Articles about crime, engagement rings, and a necklace worn in the World Series generated the most interest among readers.
MajorsDec 30, 2025
Becka Johnson Kibby to Lead Edge Retail AcademyAs part of the leadership transition, Sherry Smith will take on the role of vice president of coaching strategy and development.
SourcingDec 30, 2025
India Chosen as KP Chair for 2026It marks the third time the country has headed the Kimberley Process. Ghana will serve as vice chair.
