Pandora third-quarter gross sales barely tops forecasts By Reuters

COPENHAGEN (Reuters) – Danish jewelry maker Pandora (OTC:) reported third-quarter gross sales simply above expectations on Tuesday and stated it had up to now not seen consumers behaving in a different way regardless of hovering residing prices.

Pandora stated it had elevated costs on chosen gadgets by 4% on common globally at first of the fourth quarter.

“Regardless of macroeconomic and geopolitical uncertainty, the purchasing patterns of our customers is up to now largely unchanged”, Chief Government Alexander Lacik stated in a press release.

Pandora nonetheless expects full-year natural development of between 4% and 6% and reaffirmed an outlook for an working revenue margin at 25.0%-25.5%.

The world’s largest jewelry maker by manufacturing capability stated natural development in the US, its greatest market, had declined by 3%, as a gross sales enhance from stimulus checks through the pandemic was subsiding.

The corporate reported gross sales within the third quarter of 5.26 billion Danish crowns ($712.64 million), barely above a mean of 5.16 billion crowns anticipated by analysts in ballot gathered by the corporate.

($1 = 7.4371 Danish crowns)