AuctionsDec 18, 2025
Audemars Piguet Reclaims Historic Pocket Watch at AuctionIt purchased the “Grosse Pièce,” an ultra-complicated Audemars Piguet pocket watch from the ‘20s, for a record-breaking price at Sotheby’s.
FinancialsNov 03, 2020
Pandora Posts Strong Online Growth in Q3 as Lockdowns Loom
The jewelry company expects to have to close 18 percent of its stores this month due to COVID-19 restrictions.
A pair of 18-karat gold-plated silver Oak Leaf earrings featuring two cubic zirconia ($150) from Pandora’s autumn/winter 2019 collection
Copenhagen, Denmark—Pandora’s strong online sales helped to offset lower in-store traffic in the third quarter, but the Danish jewelry company is wary of new lockdowns on the horizon.
Third-quarter revenue totaled 4.07 billion Danish kroner ($640 million) compared with 4.42 billion kroner ($694.4 million) in the third quarter last year, an 8 percent drop.
Quarterly like-for-like sales were up 1 percent year-over-year. (Like-for-like represents true comparable sales from stores that have been open for at least a year, excluding currency fluctuations.)
Revenue for the first nine months of the year fell 20 percent to 11.12 billion Danish kroner ($1.75 billion) compared with 13.91 billion kroner ($2.19 billion) in the previous period.
Like-for-like sales were down 2 percent.
By product category, sales of charms were down 11 percent while sales of earrings fell 2 percent. Bracelet and rings sales both fell 6 percent.
The sole gainer was the necklaces and pendants category, up 4 percent.
By sales channel, Pandora-owned retail stores, including the online store, brought in 2.79 billion Danish kroner ($440.2 million), essentially unchanged from the previous year.
Wholesale sales sank 20 percent to 1.13 billion Danish kroner ($175.1 million).
In the third quarter, 25 concept stores closed. Franchisee takeovers in the U.K. boosted the number of Pandora-owned concept stores by six.
Pandora expects a net permanent closure of 50 stores in 2020, as previously announced.
Online sales were strong, totaling 841 million Danish kroner ($132.3 million), growing 89 percent year-over-year and accounting for 21 percent of total revenue.
Pandora said its online conversation rate improved, highlighting triple-digit growth in its online store in the U.K. in particular.
In the United States, Q3 revenue totaled 901 million Danish kroner ($141.7 million), up 4 percent year-over-year.
In the first nine months of the year, U.S. revenue has dropped 13 percent to 2.52 billion Danish kroner ($396.8 million)
Pandora said its performance in the U.S. market was strong, with online sales making up for reduced operating hours in most of its physical stores.
In the U.S., more than 275 stores offer a “click-and-collect” option.
“Traffic into Pandora stores was clearly outperforming general mall and jewelry industry traffic, driven by successful efforts in the reopening phase,” said Pandora, giving credit to its data-driven marketing initiatives that have allowed for greater personalization.
Looking ahead, Pandora raised its full-year guidance last month, expecting organic sales to fall 14 to 17 percent.
While Pandora did not change its guidance when reporting Q3 results Tuesday, it did note that
its prediction presumed there would be no major lockdowns and that less than 10 percent of its physical stores would be closed due to COVID-19.
Pandora now expects 18 percent of its stores to be closed in November, with 24 percent of the network open but with reduced hours.
All Pandora stores in the U.K, France and Belgium are, or will be, temporarily closed.
“We are now facing a period with new lockdowns, but we are prepared to navigate through the heightened uncertainty, and we have the financial strength to sustain a prolonged period with lockdowns,” CEO Alexander Lacik said.
Pandora now expects 18 percent of its stores to be closed in November, with 24 percent of the network open but with reduced hours.
All Pandora stores in the U.K, France and Belgium are, or will be, temporarily closed.
“We are now facing a period with new lockdowns, but we are prepared to navigate through the heightened uncertainty, and we have the financial strength to sustain a prolonged period with lockdowns,” CEO Alexander Lacik said.
More on Financials
The Latest
EditorsDec 18, 2025
Terry Chandler Looks Back on 40 Years of Opportunity, Change, and FriendsChandler got his start at Michelson Jewelers and has served as DCA president and CEO since 2001. He will retire at the end of the month.
Supplier BulletinDec 18, 2025
Cell Jammers Are Targeting Your Business. Here's How to Beat ThemSponsored by Digital Monitoring Products
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.
WatchesDec 18, 2025
Bob’s Watches to Open Store in New York’s JFK AirportThe boutique is slated to open this week inside Terminal 8, offering pre-owned Rolex watches and more to international travelers.
Weekly QuizDec 18, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Lab-GrownDec 18, 2025
Kira Jewels Debuts Custom Lab-Grown Diamond Jewelry ServiceThe lab-grown diamond grower now offers custom engagement and fashion jewelry through its Kira Custom Lab Jewelry service.
CrimeDec 17, 2025
Man Pleads Not Guilty to Swallowing Fabergé PendantThe special-edition egg pendant ingested in a New Zealand jewelry store was recovered after a six-day wait.
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.
EditorsDec 17, 2025
2025 Jewelry Rewind: The Best Piece of the Week PicksAssociate Editor Natalie Francisco plays favorites with Piece of the Week, selecting a standout piece of jewelry from each month of 2025.
CollectionsDec 17, 2025
Lucy Hale Stars in Jacquie Aiche’s Holiday CampaignThe “Love and Desire” campaign is inspired by the magic that follows when one’s heart leads the way, said the brand.
GradingDec 17, 2025
SSEF Announces 2025 Scholarship WinnersTwo awardees will receive free tuition for an educational course at the Swiss lab, with flights and lodging included.
MajorsDec 16, 2025
Pandora’s New CEO Will Step Up EarlyBerta de Pablos-Barbier will replace Alexander Lacik at the start of January, two months earlier than expected.
AuctionsDec 16, 2025
Suzanne Belperron, JAR Shine in Sotheby’s First Auctions at New HQSotheby’s held its first two jewelry sales at the Breuer building last week, and they totaled nearly $44 million.
Events & AwardsDec 16, 2025
TJS Now Accepting Scholarship Applications for 2026Winners will receive free registration and lodging for its fourth annual event in Detroit.
ColumnistsDec 16, 2025
Beyond Unboxing: Creative Reveals to Drive Reach and EngagementHere are six ideas for making more engaging content for Instagram Reels and TikTok, courtesy of Duvall O’Steen and Jen Cullen Williams.
Events & AwardsDec 16, 2025
Diamonds Do Good Names 2026 Award RecipientsThe honorees include a notable jewelry brand, an industry veteran, and an independent retailer.
CrimeDec 15, 2025
Men Receive Life Sentences in Home Invasion Murder of Jeweler Carlos Jose Hernandez and Joshua Zuazo were sentenced to life without the possibility of parole in the 2024 murder of Hussein “Sam” Murray.
Policies & IssuesDec 15, 2025
Sara Yood Named Co-Chair of RJC Standards CommitteeYood will serve alongside Eduard Stefanescu, the sustainability manager for C.Hafner, a precious metals refiner in Germany.
IndependentsDec 15, 2025
M.S. Rau to Open Store in AspenThe New Orleans jeweler is also hosting pop-up jewelry boutiques in New York City and Dallas.
AuctionsDec 12, 2025
13.54-Carat Paraíba Tourmaline Sets Records at Christie’sSet in a Tiffany & Co. necklace, it sold for $4.2 million, the highest price and price per carat paid for a Paraíba tourmaline at auction.
MajorsDec 12, 2025
David Webb Reveals Ice-Cold Holiday Window DisplayThe jeweler’s “Deep Freeze” display showcases its iconic jewelry designs frozen in a vintage icebox.
CollectionsDec 12, 2025
Piece of the Week: Oscar Heyman’s Sphene RingTake luxury gifting to new heights this holiday season with the jeweler’s showstopping 12-carat sphene ring.
Events & AwardsDec 12, 2025
IGI Jewelry Design Contest Now Accepting SubmissionsThis year's theme is “Unveiling the Depths of the Ocean.”
TrendsDec 11, 2025
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.
GradingDec 11, 2025
GIA to Offer Origin Determination for 3 More GemstonesStarting Jan. 1, customers can request the service for opal, peridot, and demantoid garnet.
IndependentsDec 11, 2025
Look Inside Day’s Jewelers’ Ninth StoreThe 111-year-old retailer celebrated the opening of its new location in Salem, New Hampshire, which is its third store in the state.
MajorsDec 11, 2025
Americas Gold Releases New Gold Chain CatalogThe new catalog features its most popular chains as well as new styles.
