Pandora First-Quarter Profit Beats Estimates as Sales Surge
Pandora A/S (PNDORA), a Danish maker of bracelets and charms, reported first-quarter profit that exceeded analyst estimates as its new products sold well.
Net income advanced to 438 million Danish kroner ($76.4 million) from 338 million kroner a year earlier, the Glostrup, Denmark-based company said in a statement today. The average estimate in a Bloomberg survey of seven analysts was 346 million kroner.
“Revenue and earnings increased across all regions,” Chief Executive Officer Bjoern Gulden, who will leave this summer to take the CEO role at sporting-goods maker Puma SE (PUM), said in the statement. Most of the increase was “due to better products, improved marketing and better execution in the stores.”
Sales rose to 2 billion kroner, from 1.42 billion kroner a year earlier, beating the 1.68 billion kroner that analysts estimated. The company maintained its forecast for full-year revenue to exceed 7.2 billion kroner. Chairman Allan Leighton will replace Gulden on July 1, the company said last month.
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