MajorsApr 07, 2026
QVC Group’s Latest Filing Calls Its Future Into QuestionThe retailer failed to file its annual report on time and said it may issue a going concern warning.
FinancialsNov 02, 2016
Pandora Cuts Even More Multi-Branded Retailers
In Q3, the bead and jewelry company trimmed 103 retailers in the Americas and then dropped 700 in the month of October.
Copenhagen, Denmark--Pandora has continued the trend of trimming its network of multi-branded retailers while also opening more concept stores and shop-in-shops.
The Copenhagen-based bead and jewelry company said in third quarter results released Tuesday that it started the three-month period with 1,679 multi-branded points of sale (gold-, silver-, white- and travel-level retailers) in the Americas and ended it with 1,576, which is a decrease of 103.
Pandora also said that in October it closed around 700 multi-branded stores in North America, 80 percent (or 560) of which will be in the United States, with the remaining 140 in Canada. The expected revenue impact from taking back inventory from these stores is around $22.3 million.
This means that year-to-date, Pandora has decreased the number of multi-branded retailers in the Americas by 962 doors.
The company added, meanwhile, 19 concept stores and 121 shop-in-shops in the region during the quarter, 110 of which were upgraded Jared the Galleria of Jewelry locations.
Globally, Pandora trimmed its multi-branded network by 248 stores in the third quarter, but added 90 concept stores and 160 shop-in-shops.
The company will continue to expand its store network, now expecting to add more than 325 concept stores in 2016.
Openings are slated to be distributed fairly evenly around the globe, with roughly half in the EMEA (Europe, Middle East and Africa) region, 25 percent in the Americas and the remaining 25 percent in Asia-Pacific.
Sales-wise, Pandora reported that total revenue in the third quarter was up 18 percent compared with the prior-year period, driven largely by an increase in volume.
Growth came in all three geographical regions, with the Americas seeing a 6 percent increase as the U.S. market rose 8 percent, offsetting down sales in Latin America.
Concept store like-for-like sales growth was 4 percent overall, with sales in the Americas flat even as the U.S. saw like-for-like sales increase 3 percent.
Net profit for the company in the third quarter was $208.8 million, compared with $149.5 million a year ago.
Pandora said it is keeping its financial guidance for the full fiscal year 2016 at about $2.97 billion.
The bead company also opened a new production facility in Lamphun, Thailand last month, with commercial production expected to start at the beginning of 2017.
The development comes as part of the company’s expansion plan to potentially double production to 200 million pieces a year by the end of 2019
as well as shorten its general lead time at its production facilities.
More on Financials
The Latest
ColumnistsApr 07, 2026
Peter Smith: A Tip to the Post Office on Workplace CultureSmith recounts a recent trip to the post office that included an uncomfortable, embarrassing, and public exchange between two employees.
GradingApr 07, 2026
GIA CFO David Tearle to Retire in June John Cowley, who has more than 30 years of experience, is succeeding Tearle as the lab’s chief financial officer.
Brought to you by
Protect Your Customers and Your BusinessYou deserve to know what you are selling–to protect your customers as well as your business and your reputation.
CollectionsApr 07, 2026
Nerd Out Over Gemology Geek’s First Jewelry CollectionFounder Erica Silverglide has designed 35 colorful pieces set with fluorescing gemstones for the brand's first finished jewelry offering.
Weekly QuizApr 02, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CollectionsApr 07, 2026
Ukrainian Jewelers Highlighted In New Book“Ukrainian Jewelry | Contemporary Jewelry and Art Jewelry from Ukraine” features 33 contemporary Ukrainian designers and studios.
CollectionsApr 06, 2026
Fope’s New Jewelry Debuts Are Golden“The Golden Now” campaign celebrates the here and now with the brand’s signature styles and a selection of its new pieces.
Brought to you by
Is This You? Every Jeweler Has This Problem; We Have the Solution.Every jeweler faces the same challenge: helping customers protect what they love. Here’s the solution designed for today’s jewelry business.
MajorsApr 06, 2026
Kecia Caffie, Corinne Bentzen No Longer With Signet JewelersSignet confirmed that Caffie, president of Zales and Banter, and Bentzen, who headed Blue Nile, have left the company.
CollectionsApr 06, 2026
Historian Tanzy Ward Pens Book on Black Victorians’ JewelryThe antique jewelry dealer talks about the importance of including Black Americans in jewelry history and preserving their stories.
SourcingApr 06, 2026
Gemfields Reports $51M Loss in 2025Both its mines faced challenges last year, from operational issues to disruptions in the market.
CollectionsApr 03, 2026
Taylor Swift’s ‘Elizabeth Taylor’ Video Puts Jewelry Front and CenterIconic pieces, like the Mike Todd Diamond Tiara, appear in the superstar’s new music video for her song inspired by the actress.
MajorsApr 03, 2026
Saks Global Says It Will Emerge From Bankruptcy This SummerThe luxury retailer, which went Chapter 11 in January, announced Thursday that it has secured $500 million in exit financing.
Events & AwardsApr 03, 2026
JCK Luxury, NouvelleBox Partner on New Designer BallroomThe NouvelleBox ballroom will feature independent jewelry designers, including Lene Vibe, Wyld Box Jewelry, and Kiaia Limited.
CollectionsApr 03, 2026
Buddha Mama Brings Its ‘Moon’ Locket To DallasThe one-of-a-kind locket, our Piece of the Week, opens to reveal three hidden images to keep close to your heart.
MajorsApr 02, 2026
Pandora Opens New Canadian Distribution Center Amid Tariff ConcernsThe new facility was also designed to better serve its growing customer base in Canada.
TrendsApr 02, 2026
Michelle Yeoh Fronts New Mikimoto Campaign The campaign is a tribute to the year 1893, when Kokichi Mikimoto created the world’s first cultured pearl.
GradingApr 02, 2026
GIA Debuts New Campus in TaiwanIt is the only GIA school to offer the GIA Graduate Gemologist program in Chinese.
MajorsApr 02, 2026
DCA Launches ‘Second Spark’ Workforce InitiativeThe initiative connects veterans and parents returning to the workforce with careers in jewelry retail.
MajorsApr 02, 2026
Hoover & Strong Names New National Sales RepresentativeThe wholesale manufacturer and precious metals refiner has appointed Michael Angelo as its new national sales representative.
MajorsApr 01, 2026
Foundrae Sues Pandora for Allegedly Copying Its Medallion DesignsFoundrae also accused the jewelry giant of copying its mood board style of marketing.
AuctionsApr 01, 2026
John Jacob Astor IV’s Titanic Pocket Watch Heads to AuctionA Patek Philippe for Tiffany & Co. timepiece owned by the American businessman who died on the Titanic will be offered at Freeman's Chicago.
SurveysApr 01, 2026
Consumers’ Outlook Improves Again in MarchThe Conference Board’s Consumer Confidence Index edged up, with optimism about the present outweighing worries about the future.
IndependentsApr 01, 2026
Zachary’s Jewelers’ Constance Polamalu to Release Children’s BookThe retailer’s Zach Bear gift comes to life in “Zach Bear and the Window Necklace,” which centers on curiosity, bravery, and helping.
Events & AwardsApr 01, 2026
AGA Opens 2026 Gemological Scholarship, Research Grant ApplicationsApplications are open for the AGA Gemological Scholarship Program through May 15, and until June 2027 for the Gemological Research Grant.
ColumnistsMar 31, 2026
Q1 Clues That Reveal Where Your Jewelry Store’s Sales Are Heading These customer behavior patterns say a lot about how successful your jewelry store is going to be this year, Emmanuel Raheb writes.
CollectionsMar 31, 2026
Mejuri Adds Silver to ‘Puzzle’ CollectionMejuri’s popular collection of 18-karat yellow gold vermeil rings debuted in sterling silver alongside new “Puzzle” slider charms.
