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Pandora pleased with 2021 performance

Jewellery retailer Pandora has said it has been pleased with its performance so far in 2021. In a trading update for February, the Danish company said… View Article

FASHION

Pandora pleased with 2021 performance

Jewellery retailer Pandora has said it has been pleased with its performance so far in 2021.

In a trading update for February, the Danish company said the number of Pandora stores closed due to Covid-19 fell from around 30% at the beginning of the month to around 25% by the month-end.

It also reported that organic sales growth was 12% and total sell-out growth was 7% compared to February 2020. This translates into a quarter to date organic growth of 4% and total sell-out growth of 1%.

The retailer said “Considering that 25% to 30% of the stores were closed during January and February, the underlying trading continues to indicate that sell-out is stabilising or growing. Sell-out growth in the US continues to be very strong.”

Pandora also said it is maintaining its financial guidance for its full year with organic growth above 8% and EBIT margin above 21%.

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