Pandora reports “strong” growth in Q4 2023

Danish jewellery brand Pandora has reported “strong” trading for the holiday season, as sales in the fourth quarter gained 12 percent to 10.82 billion Danish kroner for the three months ended December 31, 2023.

In a statement, Pandora revealed broad-based like-for-like growth in Q4 across all markets. Growth in Europe remained solid at 5 percent, while in the US sales increased by 10 percent, and the rest of Pandora continued double-digit growth at 16 percent.

For 2023, Pandora notes that the ‘Phoenix’ strategy is elevating its offering globally with sales totalling 28.13 billion Danish kroner, delivering 8 percent organic growth, above the 5 to 6 percent guidance bracket.

Alexander Lacik, president and chief executive of Pandora, said: “We are very pleased with how we ended 2023 with strong trading across the holiday season.

"Looking back at the past two years since we launched the Phoenix growth strategy, we are proud of how our strategic initiatives have come together to consistently drive strong results despite the challenging macroeconomic backdrop.”

For 2024, Pandora targets “continued solid and profitable growth,” according to Lacik, with the jeweller issuing an initial guidance of 6 to 9 percent growth in sales and around 25 percent in EBIT margin.