IndependentsAug 14, 2026
Smyth Jewelers to Open Fourth LocationThe family-owned jeweler will open a new showroom in Bel Air, Maryland, this fall.
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
Editors' Picks
Sponsored by
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
CrimeAug 14, 2026
Wife of Man Convicted in Jeweler’s Murder Sentenced for Conspiracy Amanda Ileana Hernandez is married to Carlos Hernandez, one of two men in prison for the 2024 murder of Michigan jeweler Hussein Murray.
TrendsAug 14, 2026
Paul Morelli’s Latest ‘Wavey Vine’ Earrings Embrace ColorThe reimagined jewel, our Piece of the Week, trades the diamonds in the original 1998 design for blue, pink, yellow, and green sapphires.
Brought to you by
Why More Jewelry Retailers Are Hosting Turnkey Estate Buying EventsRetailers are seeking new ways to attract customers, increase traffic, and create revenue – Estate buying events are a popular solution.
Supplier BulletinAug 13, 2026
Your Piece Could Be the One Editors Talk AboutSponsored by American Gem Trade Association
Weekly QuizAug 13, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
AuctionsAug 13, 2026
This Gold Cadbury ‘Conundrum’ Egg Set a World Auction RecordThe 22-karat gold egg, sold at Batemans Auctioneers in the U.K., was part of a 1980s treasure hunt ad campaign for Cadbury Creme Eggs.
SourcingAug 13, 2026
2,488-Carat Diamond, Largest Found in Botswana, Has a New Owner Lucara Diamond Corp., which recovered the “Motswedi” diamond from the Karowe mine, sold the stone for an undisclosed amount.
Brought to you by
Wedding Band Trends 2026: Personalization Takes Center StageColored gemstones, artisan finishes, mixed metals, and meaningful details are shaping demand in bridal jewelry.
CollectionsAug 13, 2026
John Hardy Infuses ‘Icon,’ ‘Heishi’ Collections with ColorThe expanded collections now feature hand-cut gemstones like topaz, tanzanite, chrysoprase, chalcedony, smoky quartz, and fire opal.
Lab-GrownAug 13, 2026
Jean Dousset Opens Third StoreThe lab-grown diamond jewelry brand’s newest boutique is in Westfield Valley Fair in Santa Clara, California.
SourcingAug 12, 2026
Eshed-Gemstar on the Painstaking Process of Cutting ‘The Legacy Emerald’The gemstone supplier and manufacturer acquired the remarkable 104-gram Zambian emerald at Gemfields’ auction in May.
CrimeAug 12, 2026
Elderly NYC Woman Targeted in Jewelry Swap SchemeTwo suspects offered to trade the woman a “winning” lottery ticket for her jewelry.
SourcingAug 12, 2026
Another Diamond Mine Poised to CloseFinsch has been in business rescue since May, and owner Petra Diamonds said it sees no viable path forward for the mine.
CrimeAug 12, 2026
Jewelry Store Employee Gets 20 Years to Life in Choking Death of BossMichel Patrick DeSalles was sentenced after pleading guilty to the 2017 murder of Omid Gholian, who owned a jewelry store in Manhattan.
MajorsAug 12, 2026
Frederick Goldman Names New SVP of SalesLongtime industry executive Beth Miller has taken on the role.
AuctionsAug 11, 2026
Verdura Unicorn Brooch With Royal Connection Up for Auction The brooch was owned by Virginia Fortune Ryan Ogilvy, who served as a lady of the bedchamber to Queen Elizabeth II for nearly 50 years.
MajorsAug 11, 2026
Signet Jewelers Selects Mattel Exec to Lead Zales, BanterJamie Cygielman will take on the role on Aug. 24.
IndependentsAug 11, 2026
Polly’s Fine Jewelry Co-Owner Richard Moore Dies at 69Moore, Polly’s husband, is remembered as a family man with an easygoing spirit and a love for sports and the outdoors.
ColumnistsAug 11, 2026
Creative Connecting: How to Sell Colored Gemstones to Gen ZDuvall O’Steen and Jen Cullen Williams share the best ways to display, present, and explain colored gemstones to younger customers.
Events & AwardsAug 11, 2026
NAJA Announces Lineup For 2026 Fall Virtual ConferenceThe mid-year conference for jewelry and watch appraisers will take place Sept. 5-6 on Zoom.
TechnologyAug 10, 2026
Colorado Jeweler Launches Customization Tool He Built HimselfHonest Hands Ring Co. Founder Benjamin Bosworth shared his thoughts on jewelry technology and why AI can never replace the human element.
MajorsAug 10, 2026
QVC Exits Chapter 11 Bankruptcy, Names New Interim CEOQVC Group President and CEO David Rawlinson is temporarily being replaced by a familiar face, former QVC CEO Mike George.
CollectionsAug 10, 2026
State Property Puts a Ripple in the ‘The Voyager’ CollectionThe brand also added two one-of-a-kind brown diamond pieces to the “Sanssouci” series of its “Gardens” collection.
MajorsAug 10, 2026
And IJO’s 2026 Vendor of the Year Is … Ostbye took home top vendor honors at the Independent Jewelers Organization’s show, held last month in Kentucky.
Supplier BulletinAug 07, 2026
Why More Jewelry Retailers Are Hosting Turnkey Estate Buying EventsSponsored by Stratus Estate Buyers
MajorsAug 07, 2026
Retail Veteran Pam Cloud Appointed President of Blue NileCloud, who will officially join Blue Nile on Monday, spent 26 years at Tiffany & Co. and founded jewelry brand Roseate.
MajorsAug 07, 2026
Pandora Appoints Paulo Garcia as New CFO Garcia will take over from the company’s current CFO, Anders Boyer, who is retiring at the end of November.
