PARIS — Pandora posted 4 percent organic sales growth over the fourth quarter, capping off a challenging year with improved business.
The Copenhagen-based jeweler signaled “elevated uncertainty” for the coming months, however, citing the ongoing coronavirus crisis. Nonetheless, it is projecting a return to top line growth in 2021.
“Despite these significant disruptions, we managed to navigate the business to a very strong performance, leading to market share gains in many markets,” said Pandora chief executive officer Alexander Lacik.
Revenue over the quarter came to 7.89 billion Danish kronor, or $1.27 billion, a 4 percent rise on an organic basis. Around 10 percent of stores were closed over the period.
Pandora, which has been hit hard by coronavirus store closures, has been undergoing a broad overhaul to boost its popularity and adjust to declining foot traffic in malls, where many of its stores are located. It has bulked up marketing efforts, streamlined product assortments and leaned into digital. It also opened dozens of pop-up stores in North America during the holiday season.
The brand is working on developing new product pillars while collaborations with “Harry Potter,” “Star Wars” and Millie Bobby Brown have bolstered the jeweler’s popularity.
In November, Pandora said it expected to post organic sales growth over the fourth quarter, in the range of 3 to 4 percent, signaling improved business at the end of the year.