![]() It hopes the move will grow like-for-like sales, if not total sales. For the stores it does open, it will concentrate on growth markets, such as China, India and Latin America. ![]() Under the program, Pandora will significantly reduce its franchise acquisitions and scale back new store openings. In an attempt to shore up investor confidence, Pandora has unveiled an initiative, called Programme Now, that it hopes will reignite sustainable revenue growth after group revenue dropped 3 per cent in the third quarter of 2018. Per Hansen, an investment economist at Nordnet in Copenhagen, was more blunt, calling them “terrible”, reports Christian Wienberg for Bloomberg. Pandora's share price fell 53% between May and August, and after a modest recovery, it has again tumbled 16% since the beginning of the week.Ĭhief Financial Officer Anders Boyer said the latest results were “unsatisfactory” and the start of Q4 sales are "weak". Rumors are still floating that that a private equity firm might acquire Pandora and take it private. The company has been looking unsuccessfully for a new CEO after Anders Colding Friis resigned last August after the previous cut in the company’s annual guidance caused its stock to plunge more than 20 percent. The retailer plans a “reset” after cutting its outlook and abandoning a long-term sales goal. ![]() The "unsatisfactory" results prompted the company to reduce its sales and profit margin guidance for this year following revenue declines in consecutive quarters, and is now saying it expected sales in local currencies to increase by between 4 and 7 percent this year, compared with the 7-10 percent it previously projected. fell 12% year-over-year to $153.2 million (DKK 1 billion), while worldwide revenue decreased 3% in local currency to $765.8 million (DKK 5 billion). ![]() Jewelry maker Pandora, known for its charm bracelets, reported Tuesday that Q3 sales in the U.S. ![]()
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