Pandora Beats Q4 Expectations With Record $1.3B Sales

Danish jewelry maker Pandora saw record sales in the fourth quarter, driven by strong demand in the U.S. market.

The company’s Q4 sales reached $1.37 billion, which was higher than the $1.2 billion analysts had expected. The company reported an operating profit of $411 million, which was again more than the $380 million analysts had expected. Overall, sales for 2021 grew by 23%, reaching a record $3.5 billion.

“We are very pleased with the results in 2021,” Pandora’s Chief Executive Officer Alexander Lacik said in a statement.

“Pandora has returned to growth, and we deliver all time high revenue. It is encouraging that we see broad-based growth.”

The growth in sales came despite the fact that the company had to temporarily shutter some of its stores during the fourth quarter in compliance with coronavirus lockdown measures. The company currently operates more than 2,600 stores globally.

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

In the U.S. market, the company registered an 18% growth in organic sales in Q4. Globally, the company saw a 23% increase in organic sales, which was higher than the 18% to 20% the company had projected in November.

The company plans to publish its full set of results in February 2022.

Pandora CEO On Why The Company Is Choosing Not To Sell On Amazon, Farfetch

Originally published at https://retailbum.com on January 11, 2022.

--

--

--

Retail News and Analysis

Love podcasts or audiobooks? Learn on the go with our new app.

Recommended from Medium

Gartner Tech Trends for 2019 — With Process Mining into the Future

Why Banks have marketing problems

What Happens To Returned Holiday Gifts?

4 Myths About Corporate Venture Capital and Why They’re Wrong

Calling for a Policy Shift from Shareholder to Stakeholder Focus

How to measure social impact: Aligning and proving success with your business

Figuring Out Ideas Straight From A Business Coach

NFT Mania Hits Hollywood: ‘It’s Found Money’

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Retail Bum

Retail Bum

Retail News and Analysis

More from Medium

From Nightclub Hostess to Union Director: Yun-Yun Hu’s Social Experiment

The Endless Oil rally, Energy v Tech Reversal, Performance during hiking cycles

The Climate Optimist — 24 Jan ’22 — Monitoring carbon emissions in organizations