Pandora Posts 53% Rise in Sales in Second Quarter
August 14, 13
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In local currencies, sales in the Americas increased by 54.3 percent, in Europe by 59.8 percent, and in Asia Pacific by 42.4 percent.
Net profit for the quarter was approximately $77 million compared with $11 million in the year-earlier period.
The firm said it forecasts revenue for all of 2013 at $1.42 billion.
During 2013, Pandora expects to open approximately 175 Concept stores.
CEO Allan Leighton said: "The solid performance reported for Q1 2013 has continued across all major markets in the second quarter, with strong sales from newly launched products, high replenishment rates and healthy sell-out from the Concept stores. Our strategy of delivering affordable luxury is becoming increasingly relevant, and although there are still many areas in which we can improve we are pleased with our progress."