IndependentsJun 05, 2026
Pennsylvania Jewelry Store To Close After 79 YearsJim Springer, owner of Dunkelberger’s Fine Jewelry, is heading into retirement.
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
SurveysJun 05, 2026
Consumers to Cut Back on Spending Amid Rising Prices, Survey Shows When conducting its May consumer confidence survey, The Conference Board asked extra questions about consumers’ budgeting strategies.
CollectionsJun 05, 2026
Rebel Jewelry’s Charm Symbolizes Perseverance for Pride MonthThe “Tunnel” charm, our Piece of the Week, celebrates Pride Month with its design inspired by hope and the light at the end of the tunnel.
Brought to you by
All Eyes on Gold Prices. Alternatives to Look For. And What to BEWARE of in VegasAs gold prices rise, today’s retailers are looking for alternatives at prices that will appeal to wider audiences.
SourcingJun 05, 2026
State of Diamonds: The Way Forward for Natural DiamondsThe jewelry industry is reassessing its positioning as Gen Z reshapes the retail landscape and lab grown continues to gain market share.
Weekly QuizJun 05, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
AuctionsJun 04, 2026
Treasures from Maurice Tempelsman’s ‘Marvelous’ Life Head to AuctionUp for auction at Sotheby’s, the collection of Tempelsman’s personal effects includes a Cartier Tank watch Jackie O. gifted him.
CollectionsJun 04, 2026
Buddha Mama to Spend the Summer in AspenThe Miami-based fine jewelry brand will host its first summer residency in the Colorado mountain town from June 5 to Aug. 23.
Brought to you by
How Modern Training Is Becoming a Competitive Advantage for Jewelry RetailersWith the trade and customer trust in mind, GIA® developed NextGem™ – on-demand training designed specifically for retail.
MajorsJun 04, 2026
AGS Honors Late Peter Yantzer, Holds Time Capsule CeremonyThe organization also announced its international board of directors for the 2026-2027 term.
MajorsJun 04, 2026
Neiman Marcus’ Downtown Dallas Store to Close in SeptemberSaks Global confirmed the closure this week, spelling the end for a store that’s been part of downtown Dallas for more than 100 years.
ColumnistsJun 03, 2026
Peter Smith: When Top Talent Leaves and What It Says About YouSmith discusses how managers should handle a top performer's exit, warning that a poor response could have a lasting impact.
GradingJun 03, 2026
GIA’s Tracr Investment Is First Step Toward Industry-Owned PlatformThe Gemological Institute of America is now a 30 percent stakeholder in Tracr, the De Beers-backed blockchain for diamonds.
WatchesJun 03, 2026
The 1916 Company Taking Pre-Owned Rolexes on the Road, AgainThe retailer is bringing Rolex Certified Pre-Owned watches to five U.S. cities in 2026 for collectors to see, try on, and purchase.
IndependentsJun 03, 2026
Jessica Alba Is the New Face of Gabriel & Co.The actress and entrepreneur stars in the jeweler’s new campaign that celebrates life’s quiet moments.
TrendsJun 03, 2026
State of Design: Only the Innovative Will SurviveThe price of gold has risen, affecting the number of pieces designers make, the materials they use, and how they position themselves.
SourcingJun 02, 2026
Leader Appointed for Botswana’s Diamonds for Development Fund Dr. Akinwumi Adesina, a development economist, will head the fund created to help Botswana diversify its economy.
WatchesJun 02, 2026
Watch Industry Veteran James Marks Joins Sotheby’sSotheby’s has appointed the former Phillips executive as its global head of private sales and retail in its watches division.
AuctionsJun 02, 2026
Sotheby’s to Auction 10-Carat Blue Diamond, 1960s Harry Winston Necklace A private collection of five Paraíba tourmalines also will be up for sale at Sotheby’s High Jewelry auction in New York, scheduled for June 16.
IndependentsJun 02, 2026
State of Retail: 6 Things Retailers Should Know About Consumers TodayFrom Gen Z’s view of luxury to “doom spending,” these are the six consumer trends to note this year.
Events & AwardsJun 01, 2026
Design Atelier Brands Have a Big Night at Emotional Couture Design AwardsThe show started by honoring Mildred Marcano, ended with a tearful Beth Anne Bonanno, and recognized a dozen-plus designers in between.
SourcingJun 01, 2026
RapNet Rebranding as Rapaport TradeThe revamped online diamond marketplace will feature pricing intelligence and data-driven tools for more efficient buying and selling.
SourcingJun 01, 2026
Gemfields’ Higher-Quality Emerald Auction Achieves $26.8MThe miner said demand for higher-quality emeralds is stable, but there is notable caution in the market.
CollectionsMay 29, 2026
Cultus Artem’s Necklace Is the Oasis in Las Vegas’ DesertThe “River of Heaven” necklace, our Piece of the Week debuting at Couture, combines 26 salt and pepper diamonds spaced by Tahitian pearls.
IndependentsMay 29, 2026
Meet the 2026 Retailer Hall of Fame InducteesThis year’s inductees include second-, third-, and fourth-generation jewelers.
Events & AwardsMay 28, 2026
JCK Announces Jesse Itzler as 2026 Keynote SpeakerThe author, speaker, and entrepreneur will give his presentation, “Spiritual Billionaire,” on Saturday morning.
Events & AwardsMay 28, 2026
JCK Rocks To Ride With NellyThree-time Grammy award-winning artist Nelly is set to perform at the annual event at Tao Beach on Sunday night.
MajorsMay 28, 2026
Signet Jewelers to Buy The Clear Cut Signet will integrate the online-only, natural diamond-focused jeweler into Blue Nile, which it wants to position as a higher-end retailer.
