SurveysApr 24, 2026
Mother’s Day 2026 Jewelry Spending to Top $7B, NRF SaysNRF’s annual survey found that 45 percent of consumers plan to purchase jewelry for a loved one this Mother’s Day.
FinancialsMay 07, 2019
Pandora to Close 50 Stores Following Weak Q1 Results
Quarterly revenue in the United States fell 12 percent as charm demand waned.
A sterling silver “Knotted Heart T-Bar Necklace” ($275) from Pandora. While its charms segment performed poorly, Pandora’s necklaces and pendants segment saw double-digit growth.
Copenhagen, Denmark—Pandora had a rough start to its fiscal year, reporting weak first quarter results as slowing demand for its charms sent like-for-like sales tumbling.
Quarterly revenue totaled 4.80 billion Danish kroner ($719 million), slipping 6 percent compared with 5.12 billion kroner ($820.5 million) in the previous first quarter.
Like-for-like in-store sales were down 10 percent as foot traffic fell 14 percent.
The in-store sales decline mainly occurred at jewelry stores and other outlets that carry Pandora, rather than at the company’s own stores, Q1 results show.
Revenue from company-owned retail outlets was up 16 percent in the quarter, accounting for 64 percent of its total sales. Wholesale, which accounted for 31 percent of total sales, decreased 34 percent in the quarter.
Online sales rose 7 percent. Pandora’s online store generated 10 percent of total revenue in the quarter with almost 1 million orders placed.
On a regional basis, quarterly revenue in the U.S. dipped 12 percent to 977 million DKK ($146 million).
Revenue in the Americas overall, which includes Canada, Latin America and the Caribbean as well as the United States, was down 5 percent.
Revenue from the EMEA region, which includes Europe, the Middle East, and Africa, declined 11 percent while sales in the Asia-Pacific region fell 6 percent.
China was one of the only regions to see revenue growth, up 15 percent in the first quarter. Pandora released a 15-piece Peach Blossom collection, exclusively available in China, in April.
Breaking it down by category, Pandora’s charms are still its bread and butter, accounting for 51 percent of its sales, but their popularity seemingly continues to wane.
Revenue from its charms segment sank 17 percent in the first quarter, while the necklaces and pendants segment saw double-digit growth, up 14 percent in the quarter.
Revenue from rings and earrings were also on the rise in the low-to-mid single digits while bracelets, a carrier for the charms, saw a slight dip in revenue.
Pandora is in the midst of Programme NOW, its two-year turnaround plan that aims to cut costs and revitalize the brand.
On Tuesday, the company announced it will close 50 “low-margin” concept stores, including those that are not profitable or diluting margins.
“The brand as well as the company has reached a point of maturity and it is not without some serious challenges,” new CEO Alexander Lacik said in the company’s earnings release. “The recently announced transformation Programme NOW, which I fully support, is a
Editors' Picks
Sponsored by
great transition into the future.”
Also as part of the transformation plan, Pandora will reduce the size of its sell-in packages, buy back inventory from wholesale partners and run fewer sales.
The company said it has saved 100 million DKK so far, scaling back on everything from consultancy costs and employee benefits to workforce scheduling and lease agreements.
Pandora Chief Financial Officer Anders Boyer noted that while the first quarter “emphasizes the need for our planned brand relaunch,” the company’s initial commercial pilots and marketing tests show “good results.”
The company’s fiscal year financial guidance remains the same, with organic growth expected to decline 3-7 percent with like-for-like sales improving slightly.
Also as part of the transformation plan, Pandora will reduce the size of its sell-in packages, buy back inventory from wholesale partners and run fewer sales.
The company said it has saved 100 million DKK so far, scaling back on everything from consultancy costs and employee benefits to workforce scheduling and lease agreements.
Pandora Chief Financial Officer Anders Boyer noted that while the first quarter “emphasizes the need for our planned brand relaunch,” the company’s initial commercial pilots and marketing tests show “good results.”
The company’s fiscal year financial guidance remains the same, with organic growth expected to decline 3-7 percent with like-for-like sales improving slightly.
More on Financials
The Latest
TechnologyApr 24, 2026
TwentyFour’s Digital-Age Locket Is a Virtual VaultThe “Vault” charm, our Piece of the Week, expands on the memories that can be stored in a locket by connecting to your phone.
Events & AwardsApr 24, 2026
Hamptons Jewelry Show to Return in JulyThe open-to-the-public luxury jewelry and timepiece show, in its second year, is slated for July 23-26.
Brought to you by
Discover Timeless Treasures: A Showcase of Antique Jewelry & Timepieces in Las VegasGain access to the most exclusive and coveted antique pieces from trusted dealers during Las Vegas Jewelry Week.
IndependentsApr 23, 2026
Meet the Real Moms of Day’s JewelersThe jeweler’s Mother’s Day campaign highlights the women who work there—mothers, grandmothers, women who want to be mothers, and dog moms.
Weekly QuizApr 23, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Supplier BulletinApr 23, 2026
JM® Shipping Solution: Smarter Shipping for High-Value GoodsSponsored by Jewelers Mutual
Lab-GrownApr 23, 2026
Charles & Colvard May Sell Assets for $1.5MThe proposed agreement follows the moissanite maker’s Chapter 11 bankruptcy protection filing last month.
Brought to you by
Las Vegas Antique Jewelry & Watch Show: Showcasing the Most Collectible Merchandise from Across the GlobeGain access to the most exclusive and coveted antique pieces from trusted dealers during Las Vegas Jewelry Week.
AuctionsApr 23, 2026
John Jacob Astor IV’s Titanic Pocket Watch Fetches $1MThe Patek Philippe for Tiffany & Co. timepiece Astor brought aboard the ill-fated ship sold for double its estimate at a Freeman’s auction.
CollectionsApr 23, 2026
Adam Neeley’s High Jewelry Collection Steps Into Salvador Dalí’s GardenThe “Dalí’s Garden” collection was inspired by a surreal dream Neeley had after cooking a recipe from Salvador Dalí’s 1973 cookbook.
IndependentsApr 23, 2026
Windsor Jewelers Names New Buying DirectorNatalie Feanny has been appointed to the role.
CrimeApr 22, 2026
New Mexico Couple Pleads Guilty to Selling Fake Native American JewelryThe pair falsely claimed their jewelry was made by Navajo artists, but it was imported from Vietnam.
AuctionsApr 22, 2026
Roberta Flack’s Jewelry Is Going Up for AuctionJulien’s Auctions is selling the musician’s fine and fashion jewelry alongside her clothing, gold records, and other memorabilia.
CollectionsApr 22, 2026
British Museum Curator Pens Book on ‘The Tudor Heart’Rachel King’s book dives into the history of the pendant believed to have belonged to Henry VIII and his first wife, Katherine of Aragon.
Events & AwardsApr 22, 2026
Here’s What Sy Kessler Has on Tap for Las Vegas The company will have deals on precious metals testers as well as the latest in lab-grown diamond detection technology and security.
WatchesApr 21, 2026
Coco Chanel Enters the Game with New Watch CollectionGabrielle “Coco” Chanel is a character in the “Coco Game” collection of watches and the queen in its first haute horlogerie chessboard.
IndependentsApr 21, 2026
Meet Jewelers of America’s 2026 ‘20 Under 40’ ClassThe annual list honors rising professionals on the retail and supply sides of the jewelry industry.
CrimeApr 21, 2026
Customs Nabs 1,500 Pieces of Counterfeit Jewelry Bound for NYCSeized in Kentucky, the packages include fake Cartier, Tiffany & Co., Chanel, and Fendi jewelry.
CrimeApr 20, 2026
Queens Man Convicted in Bludgeoning Death of Pawn Shop OwnerRodolfo Lopez-Portillo faces 25 years to life in prison after being found guilty in the March 2022 beating death of Arasb Shoughi.
TrendsApr 20, 2026
Beth Bernstein, Sonia Esther Soltani Pen New Jewelry Book“Jewelry Creators: Dynamic Duos and Generational Gems” highlights the relationships among 22 influential designers, brands, and gem dealers.
Events & AwardsApr 20, 2026
Atlanta Jewelry Show’s Spring Event Is Hitting the RoadThe AJS Spring 2027 show will be held in Savannah, Georgia, with future shows taking place in other Southeast cities.
MajorsApr 20, 2026
Kendra Scott Names New CFO, Chief Business OfficerThe jewelry retailer plans to open 20 new stores this year and expand into new product categories.
TrendsApr 17, 2026
New (Groundbreaking) Floral Jewelry for Spring 2026Flower motifs are the jewelry trend blooming amongst the new collections that debuted this spring.
MajorsApr 17, 2026
QVC Group Files for Chapter 11 BankruptcyThe retailer reported an 8 percent decline in annual sales as it struggles under the weight of billions of dollars of debt.
CollectionsApr 17, 2026
Edina Kiss’ Earrings Are the Devil on Your ShoulderThe “Devil” drop earrings, our Piece of the Week, are part of designer Edina Kiss’ new namesake jewelry line that she will show at Couture.
CrimeApr 17, 2026
FBI Issues Warning to Refineries, Retailers Due to High Price of GoldThe alert states that burglary crews are targeting jewelry businesses and details how jewelers and refineries can protect themselves.
WatchesApr 16, 2026
Cartier Brings Back the RoadsterThe “watchmaker of shapes” debuted the reworked version of the vintage sports car-inspired timepiece at Watches & Wonders.
