Pandora opens new distribution centre in Canada
The new facility will handle Pandora's growing Canadian online business and reduces the company's exposure to US tariffs
Pandora marks second year of UNICEF partnership with new World Children's Day charm
During the first partnership year, Pandora raised $3.4 million for UNICEF.
Pandora has previously communicated that the company would, when relevant, release extraordinary trading updates due to the elevated uncertainty related to COVID-19. On average, around 30% of physical stores were temporarily closed due to COVID-19 throughout the first quarter, with around 35% of stores closed by the end of March.
In Q1 2021, revenue was DKK 4,500 million, corresponding to 13% revenue growth in local currency vs Q1 2020.
Key revenue metrics(For definitions of metrics please refer to the Q1 2021 Aide Memoire.)
Organic growth, % Q1 2021
- vs Q1 2020 - 13%
- vs Q1 2019 - -3%
Sell-out growth incl. temporarily closed stores, % Q1 2021
- vs Q1 2020 - 21%
- vs Q1 2019 - -5%
Pandora maintains its financial guidance for 2021: Organic growth "Above 8%" and EBIT margin "Above 21%".
Detailed results for the quarter will follow in the Q1 2021 Interim Report to be released on 4 May 2021. Pandora entered into silent period on 1 April 2021 and no further comments will be provided before the release of the Q1 announcement. In connection with the Q1 announcement on 4 May, Pandora will provide an initial and high-level overview of the new strategy. No financial targets will be provided at this time.
About Pandora
Pandora is the world's largest jewellery brand. The company designs, manufactures and markets hand-finished jewellery made from high-quality materials at affordable prices. Pandora jewellery is sold in more than 100 countries through 6,800 points of sale, including more than 2,600 concept stores.
Headquartered in Copenhagen, Denmark, Pandora employs 27,000 people worldwide and crafts its jewellery at two LEED-certified facilities in Thailand. Pandora is committed to leadership in sustainability and will use only recycled silver and gold in its jewellery by 2025 and halve greenhouse gas emissions across its value chain by 2030. Pandora is listed on the Nasdaq Copenhagen stock exchange and generated sales of DKK 23.4 billion (EUR 3.1 billion) in 2021.