Pandora still had 25% of its brick-and-mortar stores closed worldwide at the end of February—but that’s an improvement from the 30% it had closed at the beginning of the month, the company announced in a brief trading update.
Despite these store closures, Pandora still had a strong month overall. During February, its organic growth was 12%, and its total sell-out growth was 7% compared to the prior year at this time. This translates to organic growth of 4% in the quarter to date.
“Considering that 25–30% of the stores were closed during January and February, the underlying trading continues to indicate that sell-out is stabilizing or growing,” the update said. “Sell-out growth in the U.S. continues to be very strong.”
Pandora CEO Alexander Lacik was recently interviewed for an episode of the JCK podcast, The Jewelry District.
(Photo courtesy of Pandora)
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