Danish jewellery maker Pandora’s shares dropped 12.6% as sales weakened in Europe, offset by strong U.S. sales. Q2 sales were 7.08 billion Danish crowns, missing forecasts. Comparable sales growth slowed to 3%, below analyst expectations. UK sales fell 9%, with 7% drops in France and Italy, and 6% in Germany. The company expects to offset rising costs with price hikes and cost cuts. U.S. tariffs on goods from Thailand were reduced, benefiting Pandora. Tariffs could cost Pandora 200 million crowns this year and 450 million next year. The company plans to offset costs through pricing and cost efficiencies. Operating profit for Q2 was 1.29 billion crowns, meeting analyst expectations. Organic revenue grew 8%. Silver prices are at a 15-year high.

Read more at Yahoo Finance: Shares in jewellery maker Pandora plummet on weakening European sales