STORY: Pandora warned of weaker 2025 sales growth on Friday (January 9), sending the Danish jewellery brand's shares down 10%.
It's after U.S. shoppers bought fewer charm bracelets and necklaces than expected in the key holiday season.
Pandora sells silver charm bracelets for $70 and upwards.
It also produces lab-grown diamond jewellery made at its own factories in Thailand.
But it's grappling with lower-income shoppers cutting their spending, the impact of tariffs and a 161% rise in silver prices last year.
Pandora said in a preliminary reading of 2025 results that it now sees full-year organic sales growth of 6%, below its previous guidance of 7%-8%.
Shares in Pandora, which is due to publish full fourth-quarter earnings on February 5, fell to their lowest level since June 2023.
The firm's CEO said silver's high cost was a "good trigger" for Pandora to start working on new materials and designs.
