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.
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
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.”
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.
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 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.
Weekly QuizJan 08, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
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.
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.
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.
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.
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.
