Pandora Jewelry stores
Danish jeweler Pandora A / S (CPH: PNDORA) Pandora announced today second quarter results beat market expectations, so the slight increase annual revenue targets.
Pandora Charms A / S (CPH: PNDORA) Pandora’s second quarter net profit of 662 million Danish kroner, compared with the same period last year, an increase of DKK 431 million 53.6%, higher than the market forecast of 575 million Danish kroner. Operating profit in the UK, Italy and France, driven by new stores surged 74.1 percent year on year to 841 million Danish kroner. Core earnings EBITDA amounted to DKK 893 million, far exceeding market expectations of 786 million Danish kroner, compared with DKK 530 million last year rose 68.5 percent.
Quarterly revenues totaled 2.544 billion Danish kroner, or about $ 467.6 million, up sharply increased 31.7% in local currencies increased by 37.1%, market expectations for 2.31 billion Danish kroner. Where the American market by 5% in local currency terms increased by 11.7%, same-store sales increased 1.2 percent; Europe soared 65.7%, same-store sales increased 26.2 percent; Asia Pacific sales recorded strong growth of 57%, and same-store sales will increase 33% .
Group’s annual revenues are expected to immediately increase of DKK 11 billion or more, or about $ 2 billion, the former is expected to be 10.5 billion Danish kroner, and store target raised from 225 275, while core EBITDA profit margin remained unchanged at 35 % target level.
In addition, the Group announced a $ 29 million dollars from the United States jeweler Hannoush Jewelers Inc. acquired 27 northeastern franchise concept store. Group also and Walt Disney Company (NYSE: DIS) Disney signed a cooperation agreement, Pandora Bracelets Ireland design Disney theme, from November to open Pandora Pandora landed stores and Disney theme parks.