Pandora’s U.S. Sales Grow 24 Percent

Pandora’s sales in the United States grew a whopping 24 percent in 2013, to hit 3.2 billion Danish kroner ($589 million), according to the company’s annual report.

Sales also grew 28 percent in dollars. The American market comprises 35 percent of the company’s revenue.

The company said the strong U.S. results were driven by demand for new products, as well as “an improved store network.”

It also reported a 5.1 percent comp growth at its U.S. concept stores in the fourth quarter, noting its recently introduced silver bangle had strong sell-through.

Overall, the charm manufacturer reported huge growth for the year. Revenue was up 35.5 percent to DKK 9,010 million ($1.65 billion). Profits also soared 85 percent to DKK 2,220 million ($409 million).

“2013 has been a strong year for Pandora,” CEO Allan Leighton said in a statement. “We recorded our highest revenue ever and increased our profitability.”

JCK News Director