Pandora achieves 15% organic growth in Q2 and raises revenue guidance for 2024

From GlobeNewswire: 2024-08-12 11:39:00

In Q2 2024, Pandora saw 15% organic growth, with 10% in key European markets and 5% in the US. Gross margin reached 80.2%, EBIT margin at 19.8%. The company has bought back DKK 2.0 billion worth of shares. Q3 trading remains healthy with mid-single digit LFL growth. Guidance upgraded to 9-12% organic growth.

Continuing its Phoenix strategy, Pandora invested in brand desirability and launched the PANDORA ESSENCE collection globally in Q2 2024. The company opened its largest global flagship store in Copenhagen. The “Core” segment saw 1% LFL growth, while the “Fuel with more” segment achieved 29% LFL growth.

CEO Alexander Lacik is optimistic about Pandora’s growth as the brand elevates into a full jewelry brand. Revenue guidance for 2024 is raised, with organic growth expected at 9-12%. EBIT margin guidance remains around 25%. Q3 trading remains strong with mid-single digit LFL growth.



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