Pandora, the world’s biggest jewelry brand, says it’s on track to reach 2022 revenue targets despite “macroeconomic and geopolitical uncertainty”.
The Danish jeweler, which has 6,400 outlets globally, reported a three per cent rise in third quarter sales and still expects to meet its full-year guidance of $3.48bn to $3.55bn.
“With strong financials and our position in affordable gifting, we are well equipped to weather a potential recession and seize relevant investment opportunities, for example to expand our store network,” said president and chief executive officer Alexander Lacik in a company announcement on Tuesday.
The company confirmed the guidance for 2022 of 4-6% organic growth and said Q4 trading so far had been in line with its Q3 performance.
It said it was still assessing the impact of the fire at the European Distribution center in Hamburg, Germany, but early indications were that it would have “limited net financial impact”.
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