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Articles from RINGS - GENERAL (890 Articles), BRACELETS (439 Articles), CHARMS (273 Articles)










Pandora's new Mystic Fairytales collection performed well in the third quarter
Pandora's new Mystic Fairytales collection performed well in the third quarter

Sales increase and new stores for Pandora

Pandora’s strong global performance in the third quarter has been echoed by similarly positive results in Australia as the international jewellery brand continues its unbroken streak of revenue increases through 2014.
 

Pandora reported a global revenue increase in both the first and second quarters of this year, and in the third quarter, this trend continued.

Group revenue increased 24.6 per cent to DKK2.85 billion (AU$546.7 m) in local currency compared to the corresponding period last year, driven by increases across all regions.

David Allen, Pandora Australia president
David Allen, Pandora Australia president

This included Australia, which recorded a 15.6 per cent rise in revenue to DKK153 million (AU$29.4 m) and a same-store sales increase by 22.9 per cent compared with the third quarter of 2013.

It marked the sixth consecutive quarter that Australia’s same-store sales increased by more than 20 per cent.

Pandora Australia president David Allen said the company was “very proud” of the performance of Australia’s concept stores, crediting these positive results to its concept store teams and franchise partners.

“Their commitment to improving operationally and their passion for their consumer is continuing to drive our same-store sales results,” he said.

Allen stated that all of Pandora Australia’s product categories had performed well over the quarter – including its new Mystic Fairytale collection – and that revenue and sales-out growth had exceeded expectations for its core charms and bracelets categories. Sales in the rings category also reportedly continued to rise, experiencing a more than 50 per cent increase in the third quarter.

“We are feeling very positive about the crucial Christmas trading period for all of our partners [retailers],” Allen said. “We have a strong plan committed to our partners having a successful Christmas, and helping them provide an experience their consumers will remember and enjoy.”

Regional breakdown
Australia was not the only country that contributed to Pandora’s global success in the third quarter.

Allan Leighton, Pandora CEO
Allan Leighton, Pandora CEO

The Asia-Pacific region as a whole reported a 40.5 per cent increase to DKK345 million (AU$66.3 m), the Americas were up 17.8 per cent to DKK1.2 billion (AU$223.8 m), and Europe’s revenue also increased by 27.4 per cent to DKK1.3 billion (AU$256.5 m).

Due to this strong performance, Pandora increased its revenue guidance for 2014 to be more than DKK11.5 billion (AU$2.2 b); it was previously guided at more than DKK11 billion (AU$2.1 b).

It was said that Pandora would also be adding more than 300 new concept stores globally in 2014 compared to the initial estimate of 275.

In the third quarter, Pandora Australia opened five stores – one store in each of NSW, Tasmania and Queensland, and two stores in Western Australia. Allen confirmed that the company planned to open more local concept stores in the fourth quarter, but declined to comment further on their number and location.

Commenting on Pandora’s overall third quarter results, CEO Allan Leighton said, “We are pleased with another strong performance, with our highest revenue and EBITDA in any quarter to date. All regions continued to perform well, driven by expansion of the store network, improving store execution and continuously relevant products.

“In addition, the result of our focus on rings is particularly pleasing, with revenue for the category almost doubling in the quarter.”

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