Pandora’s revenue rose 11% year on year in the fourth quarter amid solid trading across the holiday season and high demand in the US market.
Sales for the three months that ended December 31 reached DKK 11.97 billion ($1.67 billion), the company reported Wednesday. The Danish retailer benefited from the launch of its Pandora Essence collection, an offering that is bringing new customers to the brand, as well as from its Lab-Grown Diamonds line, which saw a rise of 43% in like-for-like revenue during the year. The company also noted strong holiday purchases, a result of its strategy to eliminate discounting, improve its brand offering, and elevate its product.
“We are please with how we ended 2024, particularly given the challenging macroeconomic backdrop and a competitive holiday period,” said Pandora CEO Alexander Lacik. “Execution of our Phoenix strategy continued to drive the brand forward throughout the entire year.”
Online sales during the quarter climbed 20% on an organic basis. That compares with an e-commerce rise of 13% during the same period a year earlier. Profit for the period increased 13% to DKK 2.87 billion ($400.7 million).
Sales in the US, Pandora’s largest market, remained strong. However, sales slowed in Europe, primarily in key markets such as France and Italy, which faced “some country-specific challenges,” Pandora observed. A solid performance in Germany offset those declines, while the rest of the company’s network had a double-digit quarter.
Full-year sales grew 13% to DKK 31.68 billion ($4.42 billion), while profit was up 10% to DKK 5.23 billion ($729.9 million).
Pandora expects revenue to grow between 7% and 8% on an organic basis in 2025, it added.
Image: A Pandora store in New York. (Shutterstock)
