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 Trading Update for February 2021
Pandora today releases a trading update for February 2021. The trading update is, as the January trading update, released as a press release, and not a company announcement, per instructions from NASDAQ Copenhagen.
Pandora has previously communicated that the company would, when relevant, release extraordinary trading updates due to the elevated uncertainty related to COVID-19. During February, the number of stores closed due to COVID-19 decreased from around 30% at the beginning of the month to around 25% by the end of the month.
In February, the organic 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%. Compared to February 2019, organic growth was 10% and total sell-out growth was -2% (quarter to date 5% and -6% respectively).
Pandora is pleased with the performance so far in 2021. Considering that 25-30% of the stores were closed during January and February, the underlying trading continues to indicate that sell-out is stabilizing or growing. Sell-out growth in the US continues to be very strong.
Pandora maintains its financial guidance for 2021: Organic growth "Above 8%" and EBIT margin "Above 21%".
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.