EditorsMay 05, 2026
This Ohio Designer’s Jewelry Made It to the Met GalaMegan Piccione dressed Lauren Wasser in layers of diamond jewelry, making her stand out in a crowd that included celebrities like Beyoncé.
FinancialsAug 20, 2019
Pandora’s Q2 Sales Dip Ahead of Brand Relaunch
The Danish jewelry company’s turnaround plan includes revamped stores, a redesigned logo, a new slogan and a simplified portfolio.
Revenue from Pandora’s beads and charms declined in the second quarter. The upcoming autumn collection will include an O-shaped pendant, giving consumers the ability it wear its beads, like the one pictured above, and charms on a necklace or clip them onto bags or jeans. (Photo courtesy of Pandora)
Copenhagen, Denmark—Pandora’s like-for-like in-store sales fell double digits in the second quarter, including a 6 percent decline in the United States.
Quarterly revenue totaled 4.69 billion Danish kroner ($697.2 million), slipping 3 percent compared with 4.82 billion kroner ($716 million) in the second quarter of last year.
Like-for-like in-store sales were down 10 percent as foot traffic declined. In contrast, like-for-like online sales jumped 22 percent.
As in the first quarter, in-store sales saw a greater decline at the wholesale level (down 14 percent) than at Pandora-owned retail stores (down 7 percent).
By market, quarterly revenue in the U.S. was flat at 1.04 billion DKK ($154.4 million) while like-for-like sales fell 6 percent. The U.S. remains Pandora’s top market, accounting for 22 percent of global revenue.
Quarterly revenue in China was up 9 percent while like-for-like sales fell 4 percent. Pandora released a 15-piece Peach Blossom collection exclusive to the Chinese market in April followed by a pop-up shop marketed via WeChat, a popular Chinese messaging app.
The company saw improvement in the key markets of the United Kingdom and Italy after increasing marketing efforts in the areas, including more social media and TV campaigns.
Like-for-like sales in the U.K. were down 8 percent in the second quarter while like-for-like sales in Italy dipped 10 compared.
Following the positive results, Pandora said it plans to increase its marketing investments in France and Australia in the second half of fiscal 2019.
By category, bracelet sales were down 2 percent while ring sales dipped 6 percent.
Revenue from its necklaces and pendants segment sank 14 percent in the second quarter despite seeing double-digit growth in the first quarter.
The earrings segment was the only category to see growth, increasing 1 percent.
Pandora said Tuesday that it plans to simplify its product portfolio, reducing its offerings by approximately 30 percent.
The company said since 2015, it has consistently added more designs than it has discontinued leaving it, simply, with too much product that isn’t selling.
“As an example we have, I think, 150 different variations of a heart on a charm. And when you speak to customers, they clearly don’t see the incremental value,” CEO Andrew Lacik said in an interview with Reuters.
In a company presentation, Pandora pointed to a “blurred” brand experience, weak initiatives on charm collecting, executional inconsistency, and “overpush,” which refers to increased promotional activity that leads consumers to wait for the next sale rather than pay full price, as its main problems.
The
Danish jewelry company’s shares were on the rise following the release of its second-quarter results Tuesday despite the double-digit dip in like-for-like sales.
“I think that investors are reacting to the correct diagnosis of the challenges in the company,” Sydbank analyst Søren Løntoft Hansen told Reuters.
For the year ahead, Pandora affirmed its fiscal year financial guidance, expecting organic growth to decline 3-7 percent with like-for-like sales improving slightly.
The company is in the midst of Programme NOW, its two-year turnaround plan that aims to cut costs and revitalize the brand.
On Tuesday, Pandora upped the estimated spend on its restructuring to around 2 billion Danish kroner ($297.1 million), compared with the previous estimate of 1.5 billion Danish kroner ($222.9 million).
The company will kick off its brand relaunch on Aug. 28 with an event in Los Angeles, unveiling its new products and revamped store layout and design.
As its charms segment continues to decline, the upcoming autumn collection will include the “O carrier,” a pendant that will allow consumers to wear their Pandora charms on a necklace or clip them onto bags or jeans.
The brand will also introduce a new logo, monogram, company marker and slogan: “We give a voice to people’s loves – Passions, People & Places.”
The store redesign rollout will take place over the second half of 2019 into next year, with the first rebranded store openings in the U.K. followed by stores in key markets including China and Italy.
“I think that investors are reacting to the correct diagnosis of the challenges in the company,” Sydbank analyst Søren Løntoft Hansen told Reuters.
For the year ahead, Pandora affirmed its fiscal year financial guidance, expecting organic growth to decline 3-7 percent with like-for-like sales improving slightly.
The company is in the midst of Programme NOW, its two-year turnaround plan that aims to cut costs and revitalize the brand.
On Tuesday, Pandora upped the estimated spend on its restructuring to around 2 billion Danish kroner ($297.1 million), compared with the previous estimate of 1.5 billion Danish kroner ($222.9 million).
The company will kick off its brand relaunch on Aug. 28 with an event in Los Angeles, unveiling its new products and revamped store layout and design.
As its charms segment continues to decline, the upcoming autumn collection will include the “O carrier,” a pendant that will allow consumers to wear their Pandora charms on a necklace or clip them onto bags or jeans.
The brand will also introduce a new logo, monogram, company marker and slogan: “We give a voice to people’s loves – Passions, People & Places.”
The store redesign rollout will take place over the second half of 2019 into next year, with the first rebranded store openings in the U.K. followed by stores in key markets including China and Italy.
More on Financials
The Latest
SourcingMay 05, 2026
Doug Hucker Returns to His RootsFollowing decades of association leadership, the “semi-retired” colored gemstone expert is turning his focus to gemstone education.
Events & AwardsMay 05, 2026
AMNH to Showcase Famous Jewelry, Trophies in Sports HistoryThe museum’s new exhibition will feature one of Jesse Owen’s Olympic medals, Yogi Berra’s crown, Super Bowl rings, and more.
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.
Events & AwardsMay 05, 2026
JIS Launches Brand Exposure ProgramThe new program provides access to media exposure and editorial opportunities for exhibitors and retailers.
Weekly QuizApr 30, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CollectionsMay 04, 2026
Melanie Georgacopoulos Turns Pearls Into Light for ‘Eclipse’ CollectionThe “Eclipse” jewelry collection captures the fleeting moment where light and shadow align though onyx, diamonds, and freshwater pearls.
ColumnistsMay 04, 2026
The Key Mindset for Better Trade Show BuyingBuying discipline at trade shows starts with clarity about your inventory levels, Smith writes.
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.
CrimeMay 04, 2026
Pawn Shop Manager Shot, Killed in FloridaLazaro Rodriguez Vega was murdered inside Cash Out Gold and Silver in Fort Pierce. A 20-year-old man has been charged in the case.
IndependentsMay 04, 2026
Zadok Jewelers, Austin Parks Foundation Support Wildflower PreservationA portion of every engagement ring sold in its Austin showroom will support the care and preservation of Austin’s wildflowers and green spaces.
TechnologyMay 01, 2026
Gemist, Saban Onyx Partner on Retailer-Focused Customization OfferingTheir partnership combines Gemist’s customization technology with Saban Onyx’s U.S.-based manufacturing capabilities.
SurveysMay 01, 2026
Consumer Confidence Inches Up in April Despite Rising Gas PricesRespondents were concerned about the Middle East conflict and how it will impact their finances.
CollectionsMay 01, 2026
A ‘Hidden Garden’ Emerges in Tiffany & Co.’s 2026 Blue BookOur Piece of the Week, the “Butterfly” necklace, showcases a 7.02-carat oval diamond set between diamond, platinum, and 18-karat gold wings.
ColumnistsApr 30, 2026
Peter Smith: A Sleazy Salesman and the Case for Regret Avoidance Smith uses a comment he overheard in the grocery store to remind retailers that their job is to inspire buying behavior, not just sell.
MajorsApr 30, 2026
Claire’s New Summer Campaign Is a Sensory Wonderland for Gen Alpha“A Girl SMR at Claire’s” celebrates girlhood through the five senses with stacked jewelry, slime toys, scented accessories, and ASMR.
AuctionsApr 30, 2026
Vintage Cartier Watch Crashes Through Records, Selling for $2MBelieved to be one of three made in 1987, the Cartier London Crash was hot at the “Shapes of Cartier” sale at Sotheby’s Hong Kong.
CrimeApr 30, 2026
Masked Group Uses Hammers, Pepper Spray in Texas Jewelry Store RobberyOfficials are looking for a group that robbed Marc Robinson Jewelers at an outlet mall in Round Rock, Texas, in broad daylight on April 21.
Supplier BulletinApr 30, 2026
OROAREZZO 2026: The B2B Event for Italian Excellence in Goldsmith, Jewelry and Silver ManufacturingSponsored by OROAREZZO International Jewelry Exhibition
TechnologyApr 29, 2026
The Thought Process Behind the Mother's Day Email Opt-OutSome retailers are taking a nuanced approach to marketing what can be a difficult holiday for many.
IndependentsApr 29, 2026
Dick Abbott to Retire From The EdgeThe Edge has announced its new CEO, as well as a new partnership with an investment firm focused on founder-led software businesses.
SourcingApr 29, 2026
De Beers’ Production Rises, Market Remains ‘Challenged’De Beers’ diamond production was up 17 percent in Q1, boosted by increased output at its mines in South Africa and Canada.
AuctionsApr 29, 2026
This'll Be the Day You Own John Wayne's RingA signet ring belonging to the Western film star of Hollywood’s Golden Age will be up for auction at Elmwood’s next month.
Policies & IssuesApr 28, 2026
Tariff Refunds: How to File, What to Expect Importers can submit claims now to receive money back for the IEEPA tariffs they’ve paid, with refunds expected to take up to 90 days.
IndependentsApr 28, 2026
This North Carolina Jeweler Is Passing the TorchThe owners of Gregory Jewelers in Morganton, North Carolina, are heading into retirement.
SourcingApr 28, 2026
Doug Hucker Retires From ICAThe colored gemstone industry leader is heading into retirement after four years as the association’s CEO.
SourcingApr 28, 2026
NDC Hires Tapestry Exec to Head Global Marketing Susie Dewey joins the Natural Diamond Council as its new chief marketing officer.
AuctionsApr 27, 2026
12 Years Later, the ‘Ocean Dream’ Diamond Resurfaces at Christie’sThe largest known fancy vivid blue-green diamond could fetch more than $12 million at its second auction appearance.
