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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