Pandora announced on 10 November 2015 that its group revenue in Q3 2015 reached DKK3.911 billion with an increase of 37.5 percent compared with Q3 2014, driven by all geographic regions.
In particular, the group scored an increase in revenue of 22.7 percent (8.3-percent increase in local currency) in Americas, 40.7 percent (36.1-percent increase in local currency) in Europe and 74.8 percent (62.9-percent increase in local currency) in Asia Pacific. Revenue from concept stores increased by 49.3 percent and corresponded to 60.6 percent of the total revenue. Gross margin increased to 74.0 percent in Q3 2015, compared with 70.3 percent in Q3 2014. Net profit for the quarter was DKK1,006 million, compared to a net profit of DKK725 million in Q3 2014.
Anders Colding Friis, CEO of Pandora, stated: “The strong top-line development has continued in the third quarter of the year, and again all regions contributed to the growth. Europe and Asia Pacific in particular did well, with both established as well as less developed markets continuing the positive momentum. Growth in the US was slightly softer than previous quarters primarily due to a change in promotion strategy in the region to further enhance our brand.”
Pandora plans to continue to expand the store network and expects to add more than 375 new concept stores in 2015.
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