Pandora’s Sales Rose 35 Percent Over Last Year

Danish bead maker Pandora continued its newfound hot streak in 2013, with sales rising a whopping 35 percent over the prior year.

The company pegged revenue at DKK 9 billion (about $1.6 billion), more than its previously announced guidance of DKK 8.6 billion. The improved numbers are due to what it called “better holiday sales in the fourth quarter and more than expected concept store openings toward the end of the year.”

In 2013, the company saw a net total of 205 concept store openings, more than its previously forecast number of 195. 

Comps at its U.S. concept stores jumped 5.1 percent, it said, but there were even stronger results from the United Kingdom (comps up 17.9 percent) and Australia (25.5 percent).

Pandora CEO Allan Leighton said in a statement the company also expects to see a substantial increase in profitability for the year, with its gross margin coming in at 67 percent—above last year’s 66.6 percent.

JCK News Director