Danish Jewellery Brand Pandora Recorded An Increase Of 34.2% In The Second Quarter.

Danish jewelry

Recently announced the 2016 quarter of fiscal year second quarter earnings, restricted by the US regional economic slowdown, the brand's second quarter net profit growth slowed down, recorded a 34.2% increase.

As of June 30th, the total sales volume of the brand increased by 20% to 4 billion 330 million dkrona, or about 657 million US dollars, which was 25% higher than local currency conversion.

But it is still lower than FactSet analysts expected 4 billion 520 million dkrona, or about 686 million U.S. sales target.

By region, the Asia Pacific region recorded a 51% sales growth, while Europe, the Middle East and Africa recorded a 32% growth in sales and a 10% increase in the Americas.

The total net profit amounted to 1 billion 220 million Danish kroner, or about 185 million US dollars, up 34.2% from 910 million DKK in the same period last year.

Operating profit was 1 billion 490 million Danish kroner, or about $226 million, up 20% compared with the same period last year, the pre tax profit rate reached 34.4%, and the profit margin before interest tax depreciation and amortization increased from 37.2% in 2015 to 37.2%.

As of 9 p.m. China time 5 p.m., after the Pandora company's earnings report, shares fell 3%, according to statistics, the company's stock price fell nearly 15.9% in the past two months, the company's market value is about 95 billion 340 million dkrona, or about 14 billion 210 million U.S. dollars.

Pandora said it will maintain its annual revenue of more than 20 billion Danish kronor in fiscal year 2016, and the profit margin before interest tax depreciation and amortization will exceed 38%. The company plans to set up fund projects and expand Thailand in IT this year.

This year, the estimated capital expenditure is about 1 billion 200 million DKK, which is higher than the estimated 1 billion DKK.

A spokesman for Pandora said the company plans to set up 300 new stores in 2016, 25 more than 275 new stores earlier.

At present, the brand jewelry is sold in 100 countries in six continents around the world, with about 8900 outlets, including more than 1900 concept stores.