COPENHAGEN, May 3 (Reuters) - Jewellery maker Pandora
on Monday lifted its full-year sales and profit
guidance as it now expects a faster reopening of its stores.
The company said it expects organic growth in sales of above
12%, compared with its previous forecast of above 8%, and sees
its margin on earnings before interest and tax (EBIT) at above
22%, compared with its previous forecast of above 21%.
The update is based on the assumption that 20%-25% of its
2,700 stores will be temporarily closed due to the coronavirus
outbreak during the first half of the year and 5%-10% in the
second half, it said.
It had previously expected 25% of its stores to be
temporarily closed in the first half of 2021. Currently, one in
five stores is closed, it said.
(Reporting by Jacob Gronholt-Pedersen; Editing by Jan Harvey)