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The company’s January-March revenue fell to 7.11 billion Danish kroner (about $1.12 billion) from 7.35 billion kroner a year earlier. The figure was slightly above analysts’ consensus forecast of 7.09 billion kroner, GlobalNewswire wrote. Organic growth amounted to 2%, while the market expected about 1%.
Amid a general slowdown in demand, Pandora recorded a 2% decline in comparable sales in North America. The company also noted weakness in the EMEA region, where sales also sagged by about 2%. Pressure on consumer activity was exacerbated by deteriorating customer sentiment and geopolitical uncertainty.
At the same time, growth in Latin America and Asia-Pacific partially offset weakness in key markets and supported the overall result.
Operating profit amounted to 1.49 billion KRW (~$215 million), notably above analysts’ expectations of 1.28 billion KRW (~$186 million).
The company’s new CEO Berta de Pablos-Barbier said the current year will be a transition for the business. Previously in charge of marketing at Pandora, she plans to expand the brand’s audience through a revamped product line, new designs and more precise targeted advertising. She estimates that the strategic changes should begin to have a noticeable impact on comparable sales growth from 2027.
At the same time, the company continues to face external pressures: high import tariffs in the U.S. and rising prices for silver, a key raw material for jewelry production. Against this backdrop, Pandora’s shares remain under pressure and are down about 50% year-to-date, according to market estimates.
