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.
FinancialsJul 10, 2020
Pandora Raises Q2 Forecast as Sales Improve
With most of its stores reopened and traffic improving, the company is predicting a brighter-than-expected second quarter.
A Pandora store in Birmingham, England. The Danish jewelry company expects sales to be down 40 percent in its second quarter but noted improvement as its stores begin to reopen.
Copenhagen, Denmark—Pandora is forecasting a better-than-expected second quarter as its stores reopen and sales improve.
The company released its preliminary second-quarter results Wednesday, outlining how the jeweler has fared so far amid the coronavirus pandemic.
Quarterly sales were down 40 percent year-over-year, though the company highlighted a partial rebound in May and June.
Its positive growth has continued with its performance in June surpassing that of the previous two months.
Its online sales have done particularly well, posting a 176 percent in organic growth for the quarter.
“The online business is firing on all cylinders, and this is a resilient channel that we can continue to push very hard,” said CEO Alexander Lacik during Pandora’s first-quarter earnings call in May.
The jeweler plans to invest more in its digital capabilities, including tech and data analytics, as part of its multipronged turnaround plan announced back in March.
Its physical stores have gradually reopened; 86 percent of its open concept stores, those owned by Pandora and franchise owned, are now open.
The company is implementing health and safety guidelines like social distancing in its locations, which it said has impacted its ability to serve customers, particularly during peak periods.
Traffic in the reopened stores is slowly improving, Pandora said.
The retailer has increased its media spending as markets have reopened “to gain early commercial momentum as consumers are returning to stores.”
Pandora updated its earnings guidance for the second quarter, expecting its EBIT (earnings before interest and taxes) before restructuring costs to be “roughly breakeven” compared with its previous guidance for negative EBIT.
The company cited the reopening of markets, quicker-than-expected traffic recovery, and its strong online sales as the reasons behind its brighter forecast.
Pandora said it will continue to suspend its 2020 financial guidance since the macroeconomic environment and future COVID-19 developments are “highly uncertain.”
The company will release its full second-quarter report Aug. 18.
More on Financials
The Latest
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.
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.
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.
Weekly QuizDec 23, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
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.
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.
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.
WatchesDec 30, 2025
Bulova, Stetson Collab on Watches With Western FlairThe new Bulova x Stetson designs highlight two animals often associated with the American West—the bison and the Texas Longhorn.
CollectionsDec 30, 2025
Rahaminov Diamonds Pops Up in FloridaIts residency at Yamron Jewelers will run through May 2026.
IndependentsDec 29, 2025
In Memoriam: Industry Friends We Lost in 2025From influential executives to innovative designers, we pay tribute to the people we said goodbye to this year.
MajorsDec 29, 2025
Tanishq Opens New Stores in Florida, VirginiaThe retailer is expanding into areas with large Indian and South Asian populations.
MajorsDec 29, 2025
Nanis Opens First Flagship Store The Italian brand has opened its first flagship amid the peaks of the Dolomites in Madonna di Campiglio, Italy.
SourcingDec 29, 2025
‘Unearthed: Raw Beauty’ Exhibition Opens at LA MuseumThe new curation at the Natural History Museum of Los Angeles County showcases rare gem and mineral specimens in their uncut, natural state.
CrimeDec 24, 2025
LA Jewelry District Couple Pleads Guilty to Hiding Millions from IRSThe couple pleaded guilty to concealing at least $127 million in cash transactions at its precious metals businesses.
SurveysDec 24, 2025
Consumer Confidence Falls Again in DecemberConsumers shared concerns about prices, inflation, tariffs, trade, and politics in the survey’s write-in response section.
AuctionsDec 24, 2025
Bonhams to Open New U.S. Flagship in NYCIn February 2026, the auction house will move its headquarters to the former Steinway Hall, a neoclassical landmark on Billionaires’ Row.
Events & AwardsDec 24, 2025
NYC Jewelry, Antique, & Object Show Announces Winter EventThe new show will take place Jan. 23-25, 2026.
SourcingDec 23, 2025
Mining Titan Brian Gilbertson Dies at 82The former BHP Billiton leader and Gemfields chairman is remembered for his influential leadership throughout his 50-year mining career.
Events & AwardsDec 23, 2025
Bulgari Reimagines Costume Designers Guild AwardThe LVMH-owned brand has partnered with the costume design union to revamp its award for 2026.
MajorsDec 23, 2025
Kering to Acquire Stake in Raselli Franco GroupThe luxury titan inked a deal to acquire an initial minority stake in the jewelry manufacturer with a pathway to full ownership by 2032.
MajorsDec 23, 2025
For Future Reference Vintage Enters Bloomingdale’sThe company’s curation of unsigned vintage and estate jewelry debuted at the Bloomingdale’s in Costa Mesa, California.
CrimeDec 22, 2025
Customs Seizes Hundreds of Fake Rolex, Cartier WatchesIn the recent multi-shipment seizure, CBP also found counterfeit Audemars Piguet, Moncler, and Chrome Hearts items.
EditorsDec 22, 2025
How Helzberg Is Reimagining Its StoresHelzberg’s Chief Retail Officer Mitch Maggart shared details about its tests of a new store concept rooted in an elevated luxury experience.
Recorded WebinarsDec 22, 2025
2025 Jewelry Rewind: Looking Back on an Eventful Year Jewelers of America execs and National Jeweler editors discuss tariffs, the sky-high gold price, and the engagement that broke the internet.
MajorsDec 19, 2025
MadaLuxe Group Acquires Ippolita The luxury goods company said founder Ippolita Rostagno will remain at the brand’s helm.
