Pandora reported a 9% increase in sales for the three months ending December 31, reaching DKK 10.8 billion ($1.58 billion) — reflecting a 12% rise on an organic basis. The company disclosed on Sunday that like-for-like revenue experienced a 9% uptick, driven by growth in both Europe and the US. Notably, sales of the Moments collection rose by 4% on a like-for-like basis, while Pandora ME saw a 6% increase. The Timeless line surged by 31%, and Pandora Lab-Grown Diamonds recorded an impressive 83% growth in revenue. The company credited a robust holiday season for contributing to its success.
In the fourth quarter, sales in the US grew by 15% year-on-year on an organic basis, with a substantial 34% increase in Germany. This positive performance offset flat revenue in the UK and a 13% decline in China.
Thanks to the strong showing in the fourth quarter, full-year revenue increased by 6%, marking an 8% rise on an organic basis. This surpassed the company's previous forecast of a 5% to 6% increase according to that parameter. The announcement led to an 18% surge in the company's stock during early trading.
Expressing satisfaction with the results, Pandora CEO Alexander Lacik stated, “We are very pleased with our results across the peak trading season and how we closed 2023. It’s clear that our brand resonates well with consumers and continues to gain strength."
