Events & AwardsJun 05, 2025
The 12 Fresh Faces in Couture’s Design AtelierDiscover the dozen up-and-coming brands exhibiting in the Design Atelier for the first time.
FinancialsMay 12, 2015
Pandora closes 105 ‘unbranded’ stores
The brand said Tuesday when releasing its first quarter financial results that it closed 105 silver, white and travel retail doors in the Americas, almost all of them in the United States.
Copenhagen, Denmark--Pandora has pulled its jewelry from 105 “underperforming, unbranded” stores in the Americas, almost all in the United States, as it continues to focus on opening more company-owned and -operated stores.
In the first quarter, the company closed 71 “silver” retailers, meaning multi-brand retailers carrying a medium-sized assortment of Pandora product and with less in-store branding than gold-level retailers, as well as 34 “white” retailers, which refers to dealers that carry a limited assortment, and travel retail locations.
The closures brought the total number of places in the Americas that are selling Pandora but are not entirely or heavily branded as such to 1,297, down from 1,468 a year ago.
Meanwhile, the number of Pandora-owned and -operated stores has increased from 21 a year ago to 61 today, mainly due to the acquisition of 22 stores that Hannoush Jewelers once owned and operated but were taken over by Pandora.
The Copenhagen-based bead and jewelry brand also now has an e-commerce store in the U.S. that’s independent of its retail partners.
“As part of the continued focus on the branded part of the network, underperforming, unbranded stores are being closed and during the quarter 105 unbranded stores, almost all located in the U.S., were closed in Americas,” Pandora said Tuesday in its interim report for the first quarter.
Sales in the Americas increased 34 percent (13 percent in local currency) year-over-year in the first quarter, including 38 percent growth in the U.S. market (13 percent in local currency). Pandora said demand for its Disney collection of charms and jewelry was strong.
Globally, total sales for Pandora reached $532.8 million in the first quarter 2015, an increase of 37 percent (22 percent in local currency) when compared with the first quarter 2014.
Gross margin rose slightly, from 69.1 percent to 71.1 percent, but net profit was down from $105.8 million to $57.5 million, impacted by additional tax expenses and finance costs.
The company said it plans to open more concept stores worldwide than originally projected this fiscal year--more than 325, up from more than 300.
Pandora also raised its revenue guidance for the fiscal year from more than 14 billion Danish krone ($2.10 billion) to more than 15 billion Danish krone ($2.25 billion).
New CEO Anders Colding Friis, the former tobacco company executive who succeeded Allan Leighton on March 1, said, “Once again, we are off to
a strong start to the year, with all geographic regions, as well as all product categories, generating double-digit growth rates.”
More on Financials
The Latest
SourcingJun 05, 2025
A Rare Suite of Rubies Has Arrived in Las VegasThe “Royal Ruby” Collection is a quintet of untreated rubies curated by collector Jack Abraham.
Events & AwardsJun 05, 2025
Daymond John to Give Keynote at JCK Las VegasThe entrepreneur and “Shark Tank” star will share his top tips for success.
Brought to you by
The True Power Behind the Counter: Why Sales Associates Are the Heart of the Jewelry BusinessWhen investing in your jewelry business, it's important not to overlook the most crucial element of success: the sales associates.
MajorsJun 05, 2025
Platinum Guild International Updates Leadership TeamTwo existing executives have been given new roles.
Weekly QuizJun 05, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Events & AwardsJun 05, 2025
Zillion Announces 'Women in STEM' Scholarship RecipientMeredith Tiderington, an electrical engineering student, was selected for the award.
Lab-GrownJun 04, 2025
GIA Reverting to More General Terminology for Lab-Grown DiamondsIt will quit assigning the stones specific color and clarity grades in favor of applying “new descriptive terminology.”
Brought to you by
Clienteling Isn’t a Buzzword. It’s an Essential Business Model.More shoppers are walking out without buying. Here’s how smart jewelers can bring them back—and the tool they need to do it right.
Events & AwardsJun 04, 2025
As JCK Talks Returns, Don’t Miss These 12 SessionsFrom design trends to sustainability, here’s a roundup of can’t-miss education sessions at JCK Las Vegas.
CrimeJun 04, 2025
10 Safety Tips for the Las Vegas Shows The Jewelers’ Security Alliance offers advice for those attending the annual trade shows.
MajorsJun 04, 2025
Amy Curran Promoted at Hill & Co.Her new role is director of strategic initiatives.
CollectionsJun 03, 2025
In Her Latest Collection, Viviana Langhoff Is Leaning Into GoldThe designer is embracing bold pieces with weight to them in “AU79,” a collection she celebrated with a creative launch party.
SurveysJun 03, 2025
Consumer Confidence Improves in May The index partially rebounded after months of decline, due in part to the U.S.-China deal to temporarily reduce import tariffs.
CollectionsJun 03, 2025
Dakota Johnson Is Roberto Coin’s New Brand AmbassadorThe actress stars in the latest campaign set in Venice, Italy, and is set to participate in other creative initiatives for the jeweler.
GradingJun 03, 2025
Mason-Kay Jade Adds ‘Fei Cui’ to Jade ReportsThe company has joined other labs, including GIA and Lotus Gemology, in adopting the Chinese term for "jadeite jade."
SourcingJun 02, 2025
Gemfields’ June Auction to Include 36-Carat RubyThe large stone will be offered at its June sale along with a selection of secondary-type rubies from a new area of the Montepuez mine.
GradingJun 02, 2025
GSI Opens New Lab in Thailand Located in Bangkok, the laboratory is Gemological Science International’s 14th location worldwide.
TrendsJun 02, 2025
Amanda’s Style File: Three Gems for June Those born in June have a myriad of options for their birthstone jewelry.
SourcingJun 02, 2025
David Allouche Joins Grandview Klein DiamondsThe diamond industry veteran has been named its senior sales executive.
Policies & IssuesMay 30, 2025
Tariffs & Designers: Navigating Pricing in an Unstable EnvironmentBetween tariffs and the sky-high cost of gold, designers enter this year’s Las Vegas shows with a lot of questions and few answers.
CollectionsMay 30, 2025
Piece of the Week: Renato Cipullo’s ‘Hematite Blaze’ NecklaceDesigned by founder Renato and his daughter Serena Cipullo, it showcases a flame motif representing unity and the power of gathering.
Policies & IssuesMay 30, 2025
Trade Court Declares Trump’s Tariffs InvalidHowever, the tariffs remain in effect in the short term, as an appeals court has stayed the U.S. Court of International Trade’s decision.
CollectionsMay 29, 2025
Britney Spears Files Trademark for New Jewelry LineThe pop icon is one step closer to launching her “B Tiny” jewelry collection, a collection she first began posting about last fall.
Supplier BulletinMay 29, 2025
Inoveo Platinum Grain, Exclusively Distributed by StullerSponsored by Stuller
SourcingMay 29, 2025
Grizzly Auctions 6,620-Carat EmeraldIt was featured in the miner’s latest sale, which brought in $24.8 million.
TechnologyMay 29, 2025
GemFind Launches AI Product Description SoftwareGemText AI uses artificial intelligence to generate tailored product titles, descriptions, and tags with jewelry-specific language.
MajorsMay 28, 2025
Graff Unveils New Las Vegas FlagshipThe 3,300-square foot location is the jeweler's largest store in North America.
