By Michael Susin
Pandora said that full-year performance was ahead of guidance after a solid profitability in the fourth quarter following a robust performance across the key period of Black Friday and Christmas.
The Danish jeweler on Sunday said that organic growth for 2023 reached 8%, ahead of its guidance range of 5% to 6%. Earnings before interest and taxes margin for 2023 landed at 25%, in line with the company’s guidance of around 25%, it added.
The beat comes after the group reported a revenue increase for the fourth quarter of 10.8 billion Danish kroner ($1.58 billion) from DKK9.9 billion the same period a year ago. This brings full-year revenue to DKK28.1 billion from DKK26.5 billion
Organic growth for the quarter was 12%, lifted by a broad-based increase in like-for-like sales of 9%.
The company added that sales growth across main markets in Europe remains solid, at 5%, while it accelerated in the U.S. to 10%.
“We are very pleased with our results across the peak trading season, and how we closed 2023. It’s clear that our brand resonates well with consumers and continues to gain strength,” Chief Executive Alexander Lacik said.
Write to Michael Susin at [email protected]
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