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.
FinancialsNov 03, 2020
Pandora Posts Strong Online Growth in Q3 as Lockdowns Loom
The jewelry company expects to have to close 18 percent of its stores this month due to COVID-19 restrictions.
A pair of 18-karat gold-plated silver Oak Leaf earrings featuring two cubic zirconia ($150) from Pandora’s autumn/winter 2019 collection
Copenhagen, Denmark—Pandora’s strong online sales helped to offset lower in-store traffic in the third quarter, but the Danish jewelry company is wary of new lockdowns on the horizon.
Third-quarter revenue totaled 4.07 billion Danish kroner ($640 million) compared with 4.42 billion kroner ($694.4 million) in the third quarter last year, an 8 percent drop.
Quarterly like-for-like sales were up 1 percent year-over-year. (Like-for-like represents true comparable sales from stores that have been open for at least a year, excluding currency fluctuations.)
Revenue for the first nine months of the year fell 20 percent to 11.12 billion Danish kroner ($1.75 billion) compared with 13.91 billion kroner ($2.19 billion) in the previous period.
Like-for-like sales were down 2 percent.
By product category, sales of charms were down 11 percent while sales of earrings fell 2 percent. Bracelet and rings sales both fell 6 percent.
The sole gainer was the necklaces and pendants category, up 4 percent.
By sales channel, Pandora-owned retail stores, including the online store, brought in 2.79 billion Danish kroner ($440.2 million), essentially unchanged from the previous year.
Wholesale sales sank 20 percent to 1.13 billion Danish kroner ($175.1 million).
In the third quarter, 25 concept stores closed. Franchisee takeovers in the U.K. boosted the number of Pandora-owned concept stores by six.
Pandora expects a net permanent closure of 50 stores in 2020, as previously announced.
Online sales were strong, totaling 841 million Danish kroner ($132.3 million), growing 89 percent year-over-year and accounting for 21 percent of total revenue.
Pandora said its online conversation rate improved, highlighting triple-digit growth in its online store in the U.K. in particular.
In the United States, Q3 revenue totaled 901 million Danish kroner ($141.7 million), up 4 percent year-over-year.
In the first nine months of the year, U.S. revenue has dropped 13 percent to 2.52 billion Danish kroner ($396.8 million)
Pandora said its performance in the U.S. market was strong, with online sales making up for reduced operating hours in most of its physical stores.
In the U.S., more than 275 stores offer a “click-and-collect” option.
“Traffic into Pandora stores was clearly outperforming general mall and jewelry industry traffic, driven by successful efforts in the reopening phase,” said Pandora, giving credit to its data-driven marketing initiatives that have allowed for greater personalization.
Looking ahead, Pandora raised its full-year guidance last month, expecting organic sales to fall 14 to 17 percent.
While Pandora did not change its guidance when reporting Q3 results Tuesday, it did note that
its prediction presumed there would be no major lockdowns and that less than 10 percent of its physical stores would be closed due to COVID-19.
Pandora now expects 18 percent of its stores to be closed in November, with 24 percent of the network open but with reduced hours.
All Pandora stores in the U.K, France and Belgium are, or will be, temporarily closed.
“We are now facing a period with new lockdowns, but we are prepared to navigate through the heightened uncertainty, and we have the financial strength to sustain a prolonged period with lockdowns,” CEO Alexander Lacik said.
Pandora now expects 18 percent of its stores to be closed in November, with 24 percent of the network open but with reduced hours.
All Pandora stores in the U.K, France and Belgium are, or will be, temporarily closed.
“We are now facing a period with new lockdowns, but we are prepared to navigate through the heightened uncertainty, and we have the financial strength to sustain a prolonged period with lockdowns,” CEO Alexander Lacik said.
More on Financials
The Latest
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.
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.
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.
Weekly QuizApr 16, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
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.
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.
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.
IndependentsApr 16, 2026
Edge Retail Academy Updates Leadership TeamAs demand for jewelry retail coaching grows, the company has established a dedicated business coaching leadership team.
MajorsApr 16, 2026
Stuller’s Latest Mountings Catalog Is Out NowThe “Mountings 2026-2027” catalog showcases Stuller’s largest and most diverse assortment to date with more than 400 new mounting styles.
PodcastsApr 15, 2026
Episode 4: The Natural Diamond DilemmaSally Morrison and Mark Klein discuss De Beers’ first beacon in 16 years and the mistake the industry made with lab-grown diamonds.
MajorsApr 15, 2026
Spark Creations’ Randy McKenzie Dies at 72 McKenzie spent 45 years with Spark Creations and is remembered for being kind, dedicated, and hardworking.
WatchesApr 15, 2026
These Are the New Rolex Watches for 2026Rolex focused exclusively on the Oyster Perpetual this year, as the model is celebrating its 100th anniversary.
SourcingApr 15, 2026
Diamond Club West Coast Names 2026 BoardKalpesh Jhaveri was re-elected as president for a third year.
TechnologyApr 15, 2026
This Jewelry Brand’s Video Series Is Up for a Webby Award“Diamond Divas,” a social media reality series by Shahla Karimi Jewelry, is nominated in the “Best Social: Fashion & Beauty” category.
SourcingApr 14, 2026
De Beers Expands ‘Desert Diamonds’ Beacon Into BridalThe campaign seeks to reignite desire for natural diamond engagement rings by highlighting the “distinct character” of warm-toned diamonds.
SourcingApr 14, 2026
International Jade Summit to Return to MontereyPresented by Mason-Kay Jade, the summit, in its second year, will again be held during the Monterey Bay Jade Festival.
Events & AwardsApr 14, 2026
CBG Releases Details for Las Vegas ShowThe group has announced its lineup of speakers and a new “Rising Stars” pavilion.
CollectionsApr 13, 2026
Uniform Object’s New Jewelry Collection Centers on the ‘Carbon Form’The “Carbon Form” collection explores the contrast between high and low materials, using rubber cord alongside 18-karat gold and gemstones.
Events & AwardsApr 13, 2026
JA Accepting 2026 Impact Initiative ApplicationsThe program provides essential funding to organizations for projects that enhance the jewelry industry.
Events & AwardsApr 13, 2026
Couture Announces New Show in MiamiThe jewelry trade show is launching its first open-to-the-public event in Coconut Grove this November.
