Lab-GrownNov 10, 2026
GIA Examines Pink Lab-Grown Diamond Made to Look NaturalThe 6-carat CVD-grown pink diamond was “deliberately modified” to mimic the appearance of a natural rough diamond, the lab said.
FinancialsNov 09, 2017
Hurricanes, Sluggish Retail Hurt Pandora in the Americas
In the third quarter, Pandora’s U.S. sales declined 2 percent in Danish krone and they are down 3 percent so far this year.
Pandora said in its third quarter earnings report it launched its Christmas collection ahead of schedule, in early October, in order to make Q4 as strong as possible. Pictured here is one of the gift sets the brand is offering this holiday season, the Rose Elegance. It retails for $379.
Copenhagen, Denmark--The retail environment in the United States remains challenging, particularly for physical stores, Pandora said in reporting its third quarter 2017 results Wednesday.
In the quarter ended Sept. 30, the Danish bead brand’s U.S. sales totaled $174.2 million, compared with $177.8 million in Q3 2016, a decline of 2 percent in Danish krone (DKK) but an increase of 4 percent in local currency.
Pandora said any growth in sales was driven primarily by the opening of new stores, including the franchise stores it acquired during the quarter.
For the first nine months of the year, revenue was down 3 percent in the U.S. in both DKK and the dollar.
The company described the retail environment in the United States as “challenging,” with its online store seeing sales growth but physical stores continuing to struggle, and noted that “affordable” jewelry brands are being “increasingly promotional.”
It also noted that it lost about $7.8 million due to the hurricanes that hit the United States and Puerto Rico in Q3 and expects that loss to grow to about $23.4 million for the year.
In recent years, Pandora has pulled its product out of jewelry stores--including hundreds of independents in the U.S.--while also buying back concept stores once controlled by franchisees and opening more company-owned stores in order to, it has said, have better control over the brand.
This year in the U.S., Pandora purchased 50 concept stores from franchisees between Jan. 1 and Sept. 30.
Globally, Pandora’s revenue was up 13 percent year-over-year in the third quarter to $809 million.
Gross margin slipped from 75.1 percent to 74.2 percent.
EBITDA (earnings before interest, taxes, depreciation and amortization) was $306 million, with an EBITDA margin of 37.8 percent, down from an EBITDA margin of 39.9 percent last year.
Pandora said the drop was mainly due to unfavorable currency fluctuations and higher marketing expenses.
The Asia-Pacific region is becoming an increasingly important market for Pandora. The company’s third quarter results show that in the first nine months of 2017, the Americas accounted for 32 percent of global revenue, down from 36 percent in the same period last year, while Asia Pacific was at 23 percent, up from 19 percent last year.
“The results in the third quarter were in line with our expectations, with the underlying development showing positives as well as negatives,” CEO Anders Colding Friis said. “Most of our major growth markets--Germany, Italy, Australia and China--continued to show strong performance
Editors' Picks
Sponsored by
… whereas the retail environment in the U.S., combined with currency headwind from the U.S. dollar, continued to be a challenge.”
More on Financials
The Latest
SourcingNov 10, 2026
Botswana in Line to Take Controlling Stake in De Beers, President Says If the Global Diamond Consortium emerges as the top bidder for De Beers, Botswana’s stake will double to 30 percent, Duma Boko said Monday.
ColumnistsNov 10, 2026
Who Checks the Facts When AI Writes Your Jewelry Copy?An incorrect AI-generated ad or product description can cost your store valuable consumer trust.
Brought to you by
DSF Antique Jewelry: Fine Jewelry, Signed Designers, and a World of Rare DiscoveriesWith over 50 years experience in the trade, DSF Antique Jewelry offers quality, craftsmanship, condition, and remarkable variety.
Events & AwardsNov 09, 2026
Here Are the 2027 Gem Award NomineesThese nine individuals and brands are up for a Gem Award in the Jewelry Design, Media Excellence, and Retail Innovation categories.
Weekly QuizNov 05, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CrimeNov 09, 2026
Jeweler Pistol-Whipped, $900K in Jewelry Stolen During Home Invasion The incident, which happened in Miami-Dade County, serves as a reminder to jewelers of the dangers of selling and storing jewelry at home.
GradingNov 09, 2026
GIA Acquires Thousands of Gem Specimens With ‘Extraordinary’ InclusionsGIA Analytical Microscopist John Koivula curated the collection of 2,665 crystals, gems, and minerals over a 60-year span.
Brought to you by
How Overnight Mountings’ Bridal Builder Makes Custom Engagement Ring Design Easier to SellWith customization becoming more expected in engagement ring shopping, the Bridal Builder makes the process tangible.
CollectionsNov 09, 2026
Bibi van der Velden’s Alligators Become High JewelryThe “Eclipse” collection, the brand’s first high jewelry line, centers its alligator motif in diamond and spinel jewels.
EditorsNov 06, 2026
The Spectrum Pieces I Can’t Stop Thinking AboutFrom a Betta fish brooch to a “dragon’s trove” of zircon eggs, here are seven pieces that’ve stuck with Associate Editor Lauren McLemore.
TrendsNov 06, 2026
Pat Pruitt’s DragonFly Earrings Take Flight on Election NightGroundbreaking New Mexico Governor-elect Deb Haaland wore the earrings, our Piece of the Week, when she declared victory on Tuesday.
MajorsNov 06, 2026
SNL’s Colin Jost Finds the Perfect Gift in Kay Jewelers’ Holiday AdJost goes on an epic journey, traversing rough seas and encountering a cyclops, to discover the perfect holiday gift.
Supplier BulletinNov 05, 2026
Winning With GCAL 8X®: What’s Working at the CounterSponsored by GCAL by Sarine
SurveysNov 05, 2026
What Retailers Should Know About Holiday Shoppers This YearFrom shrinking budgets to AI elves, here are five takeaways from holiday reports by Bain, Adobe, Mastercard, NRF, and insights from YouGov.
CollectionsNov 05, 2026
Judi Powers, Russell Jones Unleash Joy With New CollaborationThe designers combined their talents for Little Pet Portraits, hand-painted miniatures of our best friends set in a piece of jewelry.
MajorsNov 05, 2026
Ariana Grande Stars In Swarovski’s Holiday Campaign“Joy: The Swarovski Musical” features Ariana Grande as the leading lady in scenes inspired by classic musical montages.
GradingNov 05, 2026
GIA to Offer Next-Day Holiday ServicesThe lab will bring back its complimentary next-day service for some reports starting next week.
CrimeNov 04, 2026
$250K+ in Undeclared Cartier Jewelry Seized at Philadelphia AirportA Pennsylvania woman failed to declare a ring and a bracelet, discarding the boxes and receipts to conceal the purchases, officials said.
Events & AwardsNov 04, 2026
NYC Jewelry Week 2026 Is the Largest Edition YetThe citywide celebration, slated for Nov. 16-22, is set to host more than 175 events, including live jewelry-making demos.
MajorsNov 04, 2026
Bergdorf Goodman Names New PresidentLanessa Elrod, former president and CEO of Louis Vuitton Americas, has stepped into the role as the retailer celebrates 125 years.
AuctionsNov 03, 2026
Infinity Gauntlet Set With 170+ Carats of Colored Gemstones Up for AuctionA replica of one of the most powerful objects in the Marvel Cinematic Universe, the glove is heading to auction next month in Abu Dhabi.
IndependentsNov 03, 2026
Longtime Jewelry Marketer Arthur Klein Dies at 89Klein, who had his own marketing agency and worked for Gabriel & Co. and Trans American Diamond, is remembered as a kind man.
IndependentsNov 03, 2026
Zadok Jewelers Toasts To 50 Years With Diamond Bracelet GiveawayTo enter the giveaway, locals can purchase a featured beverage from one of eight participating restaurants in Houston and Austin, Texas.
Events & AwardsNov 03, 2026
David Yurman Gem Awards Grant Opens 2027 ApplicationsThe grant recipient will be awarded $50,000 as well as mentoring meetings with executives at David Yurman and other industry executives.
Events & AwardsNov 03, 2026
NAJA, Instappraise Name 2026 Scholarship WinnersThe winners include a non-NAJA member seeking training, a member beginning NAJA courses, and a member becoming a Certified Master Appraiser.
AuctionsNov 02, 2026
197-Carat ‘Romanov Sapphire’ Heads to Sotheby’s GenevaThe rare jewel, which has links to Russia’s Romanov dynasty, is estimated to fetch up to $2 million.
CrimeNov 02, 2026
Customs Seizes More Than 400 Fake Audemars Piguet WatchesIt is one of several seizures of counterfeit jewelry and watches by U.S. Customs and Border Protection officials in Louisville this year.
