Pandora’s sales and profits both rose in the first quarter, in what its CEO called a “strong start to the year.”
First quarter group revenue was DKK 2.002 billion ($347.8 million), a 40.6 percent increase compared to the first quarter of last year.
Net profit for the quarter increased by 29.6 percent to DKK 438 million ($76.1 million).
“Revenue and earnings increased across all regions, positively impacted by the delivery of the Valentine’s Day collection,” said CEO Bjørn Gulden in a statement. “Even more importantly, our sales-out in concept stores has also strengthened with double digit growth in our four major markets.”
Gulden is leaving the company to head Puma.
Other highlights of Pandora’s balance sheet:
- Revenue in the Americas increased by 38 percent (38.6 percent in local currency)
- Revenue in Europe increased by 50.4 percent (50.6 percent increase in local currency)
- Revenue in Asia Pacific increased by 26.1 percent (27.7 percent increase in local currency)