Pandora Posted Organic Sales Growth in November
PARIS — Pandora said it posted organic sales growth in November, with online sales offsetting a decline of in-store sales, offering a snapshot of business heading into the crucial holiday season.
The Copenhagen-based jeweler signaled that December trading will likely be impacted negatively by efforts to shift business to earlier in the year to avoid crowding in stores, and strains on the online system at the height of the holiday season.
Pandora, which has been hit hard by coronavirus store closures, has been undergoing a broad overhaul to boost its popularity and adjust to declining foot traffic in malls, where many of its stores are located, bulking up marketing efforts, streamlining product assortments and shoring up its digital means.
The company last month reported a 5 percent decline in third-quarter sales on an organic basis, but said business had begun improving thanks to turnaround efforts. It pledged to update investors on trading conditions more often, when relevant, given the uncertain environment.
In November, sell-out growth was positive, the charm-maker said.
Coronavirus restrictions will continue to affect trading in December, predicted the company, noting that around 10 percent of its stores were temporarily closed at the end of November.
Pandora is opening nearly 75 pop-up stores in North America for the holiday season, to help ease traffic in stores.
The brand is working on developing new product pillars while collaborations with “Harry Potter,” “Star Wars” and Millie Bobby Brown have helped bolster the jeweler’s popularity.
Sign up for WWD's Newsletter. For the latest news, follow us on Twitter, Facebook, and Instagram.
