<\/p>\n
\n\tPARIS \u2014 Pandora\u2019s gears have clicking into place and it is regaining speed.<\/p>\n
\n\tOn Wednesday, the Danish jewelry giant reported 6 percent organic growth in the third quarter, with like-for-like sales up 4 percent and a 2 percent boost from network expansion and other factors.<\/p>\n
\n\tDuring the quarter, sales reached 6.69 billion Danish kronor, or $1 billion at current exchange rates.<\/p>\n
\n\tThe company also sharped its guidance toward the upper end of the range it announced in August, now expecting 2026 figures to fall in a 2 percent to 3 percent bracket for organic growth, up from the previous 0-to-3 percent target, and an EBIT margin coming in between 22.5 percent and 23 percent.<\/p>\n
\n\t\u201cWe are seeing that we are gaining momentum. Our strategic initiatives are clicking into gear,\u201d president and chief executive officer Berta de Pablos-Barbier told WWD, noting that consumers were responding to new designs and culturally relevant activations.<\/p>\n
\n\tIn the three months to Sep. 30, the jeweler saw positive like-for-like growth in every region, a development she deemed \u201can encouraging step in a challenging consumer environment.\u201d<\/p>\n
\n\tSales in North America grew 3 percent in the quarter, while Europe rose by 1 percent, marking its return to growth after five quarters of contraction. The Middle East and Africa zone\u2019s business also grew by 1 percent.<\/p>\n
\n\tThe Asia-Pacific region saw the biggest increase, with a 20 percent leap, and Latin America rose 6 percent.<\/p>\n
\n\tIt made for \u201cplenty of things to be positive about,\u201d the CEO said, although \u201cwe have to [be] a little bit humble,\u201d given half of the overall growth of the quarter came from Japan alone.<\/p>\n
\n\tWhile that was proof for a new model de Pablos-Barbier described as \u201cmaximizing the bridge but being very locally relevant,\u201d she cautioned that growth at such a pace \u2013 the country doubled in one year and has triple-digit growth in the quarter \u2013 \u201ccannot last forever.\u201d<\/p>\n
\n\tMeanwhile, on the product side, the Core category that contains Pandora\u2019s charm business and the Talisman range launched last year, grew 1 percent. The Fuel for More segment, which spans newer developments such as lab-grown diamond designs, jumped 9 percent.<\/p>\n
\n\tOverall, de Pablos-Barbier said that \u201cwhenever [Pandora is] offering new designs with compelling activations and culturally relevant activation, the consumer is responding well.\u201d<\/p>\n
\n\tThe Danish jewelry company will forge ahead with the likes of Pandora Wonders, launched in July with stylist Harry Lambert and slated for a second chapter next year; and Pandora Voices, launched in October with Dame Pat McGrath. On the latter, de Pablos-Barbier said the jeweler was \u201copen to working with someone who can offer a fresh take on its icons,\u201d but had no new collaborator to announce to date.<\/p>\n
\n\tPandora\u2019s gross margin in the quarter was also up, bolstered by a partial refund of U.S. tariff claims. The quarter\u2019s results overall beat consensus estimates, bar for the EBIT margin, which came in at 15.9 percent, underlined by RBC Capital Markets analyst Piral Dadhania as coming 5 percent below consensus estimates.<\/p>\n
\n\tAsked about this perceived miss, de Pablos-Barbier said she had made \u201ca deliberate decision to take one point of EBIT and invest it back into the brand\u201d to address a gap identified in its retail.<\/p>\n
\n\t\u201cOur stores could be warmer, could be more immersive, could be more inspiring discovery, better at helping people choose their style, understand our collections, so we are bringing some investment next year on making sure that that happens,\u201d she continued. Tests in Italy and New York, where conversion increased, backed this decision.<\/p>\n
\n\tDe Pablos-Barbier added there would be no major retail concept change. The company will continue to focus on its strategy of flagship openings, such as the ones in Barcelona and Milan earlier in the year that she called \u201cbeautiful expressions of the brand but most importantly, commercially viable.\u201d<\/p>\n
\n\tLooking ahead, the Danish jewelry giant said like-for-like growth in October had risen 1 percent, negatively impacted by lower promotional activity, but that \u201cunderlying trends remain healthy\u201d at around 3 percent.<\/p>\n
\n\tPandora noted that it remains on track to begin its planned transition to platinum-plated jewelry in 2027, after a test was launched in the Netherlands in July and expanded to the U.S., U.K. and Australia.<\/p>\n
#Global #Growth #Points #Reacceleration<\/p>\n","protected":false},"excerpt":{"rendered":"
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