Pandora Q1 revenues down 3.3pc amid weak consumer sentiment

(Sharecast News) - Jeweller Pandora posted a 3.3% decline in first‑quarter revenues on Wednesday, dropping to DKK 7.11bn (£822.44m) as softer consumer sentiment in North America and continued weakness across parts of Europe weighed on its performance. On an organic basis, Pandora said revenues rose 2%, supported by network expansion and other commercial initiatives, while like‑for‑like sales were flat. The group's EBIT margin eased to 20.9% from 22.3%, with Pandora citing significant external headwinds from tariffs, commodity costs and foreign‑exchange movements. Operating profits fell 9.3% to DKK 1.48bn (£171.21m).

Regional performance was mixed, with EMEA down 2% on a like‑for‑like basis, while Asia‑Pacific rose 12% and Latin America advanced 6%.

Pandora also reiterated its 2026 guidance for an organic revenue decline of 1-2% and an EBIT margin of 21-22%, noting that current trading in the second quarter showed broadly flat like‑for‑like growth.

Chief executive Berta de Pablos‑Barbier said Pandora was progressing initiatives to "re‑energise" growth and expanding into new materials as it positions itself as a multi‑material jewellery brand, despite an uncertain economic and geopolitical backdrop.

As of 1145 BST, Pandora shares were up 11.7% at DKK 555.80 each.





Reporting by Iain Gilbert at Sharecast.com