Danish jeweller Pandora sold plummeting in Asia Pacific in t

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Danish jeweller Pandora sold plummeting in Asia Pacific in t

Odeslatod PaulMisner v Sob 09. Čer 2018 3:24:10

Once considered to be a dark horse in the jewelry market and the world's third-largest Danish jewellery brand, Pandora, the recent days do not seem to be too good. Pandora's first Pandora Charms UK Sale quarterly financial report for fiscal year 2018, released on May 16, showed that in the three months to March 31, its sales fell by 1% to DKK 5.12 billion, or about US$ 819 million, at a fixed exchange rate. The calculation increased by 6%, but the rate of increase of 9% compared to the same period last year has slowed sharply. EBITDA decreased by 11.3% year-on-year to 1.647 billion Danish kronor, which is less than the analyst forecast of 1.7 billion DKK. Gross profit margin is 76.8%. Both income and profits have fallen. "This earnings report is among those who are not optimistic about the Pandora brand." Per Hansen, an investment economist at the Nordic Bank, commented.

Cheap Pandora Charms The most surprising data in the financial report is that the Asia-Pacific market’s sales growth slowed sharply to 1% compared with 125% in the same period last year. It recorded DKK 1.159 billion, accounting for 23% of total sales, including China’s sales. Growth eased from 62% in the fourth quarter of last year to 16%. Australia also recorded a 4% decline due to lack of new products and reduced consumption by Chinese tourists. The Chinese market, which has always been considered to have great potential, seems to have begun to lack sufficient momentum. Pandora CEO Anders Colding Friis told analysts on the conference call that China’s performance was worse than expected. He said that the sluggish sales in the Chinese market was mainly affected by the gray business such as purchasing and purchasing. The gray market in purchasing is a “very Chinese issue” and has continued to increase in the past few months. Currently, the Group is actively adopting measures to curb and minimize the adoption of its products. Other channels flow into China and sell online.

Pandora Rings On the other hand, in the current jewellery market, Pandora's most important and core beaded series has already emerged from competitors of other brands such as Thomas Sabo of Germany and X Jewellery of Denmark. Based on the concept of beading, some brands also tried to design a beaded style in cooperation with cartoons and animations to compete directly with Pandora. In order to stimulate sales, Anders Colding Friis said that Pandora will continue to increase marketing efforts to increase product categories, and plans to add 650 designs (450 in 2017) this year, including two new series, one of which is called “ Shine" gold series. In addition, continue to shorten the new product delivery cycle, plan to shorten delivery time to 4 weeks (currently 6 weeks) by 2019, and reduce promotional activities, especially at the end of 2018. Pandora will also continue its globalization expansion. The next key development target is the Indian market, which plans to add 50 stores in India within the next three years. In view of the substantial slowdown in the Group's growth during the period, Pandora expects revenue growth in fiscal year 2018 to be approximately 6% to 7%. It plans to add 200 stores, half of which will be located in Europe, the Middle East and Africa, and the other 25% in the Americas. The remaining 25% are located in the Asia Pacific region.
PaulMisner
 
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