Pandora’s plan for total world domination seems to be going swimmingly (we kid!). On Nov. 12, the Danish jewelry brand reported its third-quarter revenue as up 25.7 percent on the year to $405 million.
Sales in the Americas increased by a respectable 7.6 percent, but jettisoned by 46.5 percent in Europe and 37.7 percent in Asia Pacific. Net profit for the quarter was $110 million, compared with a net profit of $68 million in the third quarter 2012. Revenue for 2013 is expected to be approximately $1.54 billion, up from previous forecasts of $1.44 billion.
Pandora’s CEO Allan Leighton said in a statement that this quarters’ numbers were buoyed by “the easy comparative figures created by last years’ stock balancing program,” and warned that “we are now entering a phase with more modest headline growth.”
Still, Leighton said the company is pleased with the results, which “confirm that the business has reestablished a base platform to build from.”
Pandora expects to open approximately 195 stores this year.