Log in
Forgot password ?
Become a member for free
Sign up
Sign up
Dynamic quotes 

MarketScreener Homepage  >  Equities  >  NASDAQ OMX COPENHAGEN  >  Pandora AS    PNDORA   DK0060252690


News SummaryMost relevantAll newsOfficial PublicationsSector newsAnalyst Recommendations

Pandora : Recovery signs boost jeweller Pandora despite profit drop

share with twitter share with LinkedIn share with facebook
share via e-mail
08/20/2019 | 04:32am EDT
A Pandora sign is seen at the company's headquarters in Copenhagen

COPENHAGEN (Reuters) - Smaller sales declines in key markets Britain and Italy and a step up in restructuring efforts helped to lift Danish jewellery maker Pandora's beaten down shares on Tuesday, despite a drop in second-quarter earnings.

The shares, which had fallen about 10% this month, were up 6.5% at 248.30 Danish crowns at 0740 GMT.

Pandora, best known for its customisable silver charm bracelets, is struggling after new jewellery lines failed to entice shoppers, but is buying back older ranges from franchises and slimming down collections to try to improve its performance.

Sales from stores open more than a year fell 10% in the second quarter from the same period last year - the same as in the first quarter.

However, like-for-like sales in Britain and Italy were down 8% and 10% respectively, compared with first quarter slumps of 13% and 22%, after a pick up in marketing spending.

"We dialled up the volume on our media investments by a factor of two in order to try and see if we could move the needle on traffic. And that has been very successful," newly appointed CEO, Alexander Lacik, told Reuters.

"We got a very strong return on investment," he added, saying the initiative would be implemented across other key markets.

Pandora said restructuring costs were now likely to be "up to 2.0 billion" crowns, compared with a previous estimate of up to 1.5 billion crowns (183.89 million pounds).

"We've upped that bill because we've simply found more dead wood in the business," Lacik said.

The company will also simplify its product portfolio.

"As an example we have, I think, 150 different variations of a heart on a charm. And when you speak to customers, they clearly don't see the incremental value," the CEO said.

Explaining Pandora's share price rise, Sydbank analyst Soren Lontoft Hansen said: "I think that investors are reacting to the correct diagnosis of the challenges in the company."

Pandora's second-quarter earnings before interest, tax, depreciation and amortisation fell 13.7% to 1.29 billion crowns ($192 million), but the company kept its full-year guidance.

(Reporting by Nikolaj Skydsgaard; Additional reporting by Tommy Lund; Editing by Rashmi Aich and Mark Potter)

By Nikolaj Skydsgaard

share with twitter share with LinkedIn share with facebook
share via e-mail
Latest news on PANDORA AS
09/16PANDORA : Trading in pandora a/s shares by board members, executives and associa..
09/09PANDORA : Transactions in connection with share buyback programme
08/30PANDORA : Ex-dividend day for extraordinary dividend
08/29PANDORA : Jeweller Pandora aims to regain sparkle after LA relaunch
08/29PANDORA : Jeweller Pandora aims to regain sparkle after LA relaunch
08/28Tiffany profit tops estimates, Hong Kong and tourism hit sales
08/28EUROPE : Global growth worries keep a lid on European shares, chaotic Brexit loo..
08/26PANDORA : Transactions in connection with share buyback programme
08/21EUROPE : Italy leads bounce in European shares, Fiat-Renault talks in focus
08/21EUROPE MARKETS: There's A Multitude Of Ways The Italian Political Situation C..
More news
Financials (DKK)
Sales 2019 22 063 M
EBIT 2019 5 683 M
Net income 2019 2 775 M
Debt 2019 11 555 M
Yield 2019 6,03%
P/E ratio 2019 10,6x
P/E ratio 2020 8,01x
EV / Sales2019 1,81x
EV / Sales2020 1,87x
Capitalization 28 448 M
Duration : Period :
Pandora AS Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends PANDORA AS
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus HOLD
Number of Analysts 15
Average target price 303,57  DKK
Last Close Price 298,30  DKK
Spread / Highest target 87,7%
Spread / Average Target 1,77%
Spread / Lowest Target -43,0%
EPS Revisions
Anders Boyer-Søgaard Chief Executive Officer, CFO, Executive VP
Peder Tuborgh Chairman
Jeremy Schwartz Chief Operating Officer
Andrea Dawn Alvey Independent Director
Povl Christian Lütke Frigast Deputy Chairman
Sector and Competitors