Pandora Q4, full-year results ahead of expectations

Danish jewellery giant Pandora has reported preliminary fourth-quarter and full-year results ahead of guidance.

The company said both its Q4 and FY revenue were its highest on record, and its total sell-out also reached a historical level in the final quarter of the year.

The jeweller reported Q4 revenue of 9 billion Danish krone (around 1 billion pounds), representing organic growth of 10 percent compared to a year ago, and 15 percent compared to two years ago.

Analysts had expected revenue of 8.4 billion krone.

For the full year, the company reported revenue of 23.4 billion krone, representing organic growth of 23 percent compared to a year earlier, and 9 percent compared to two years earlier.

In terms of the pandemic’s ongoing impact on the business, Pandora said on average a low single-digit percentage of its physical stores were temporarily closed during Q4.

It said: “Furthermore, physical stores in a number of markets were negatively impacted by other restrictions, not least in China.

“The recent escalation of Covid-19 continues to drive some uncertainty with regards to financial performance in 2022.”