IndependentsJun 05, 2026
Pennsylvania Jewelry Store To Close After 79 YearsJim Springer, owner of Dunkelberger’s Fine Jewelry, is heading into retirement.
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
Editors' Picks
Sponsored by
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
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.
