Policies & IssuesJul 24, 2026
New Trump Tariffs: What They Mean for Jewelry The new sweeping slate of tariffs impacts 60 countries, including India, China, Thailand, Hong Kong, and the United Arab Emirates.
FinancialsMay 10, 2017
Pandora Sees US Sales Fall in Q1
They were down 10 percent due to a “difficult” retail environment, particularly in the country’s malls.
An image from the global ad campaign Pandora launched this spring celebrating women who “do.” The Danish bead and jewelry brand saw sales rise globally in the first quarter but fall in the United States.
Copenhagen, Denmark--Pandora saw its U.S. sales decline for the second quarter in a row due to what it described as a “difficult” retail environment, particularly in the country’s malls.
The Copenhagen-based bead brand reported Tuesday that revenue in the United States was down 7 percent (10 percent in local currency) year-over-year in the first quarter.
Excluding the effects of the closing of 600 other points of sale (non-concept stores) and a large, one-off shipment to Jared the Galleria of Jewelry in Q1 2016, U.S. sales would have been flat.
The U.S. results were a drag on the performance of the Americas region, which recorded a 5 percent (9 percent in local currency) drop in sales to $247.4 million in the first quarter.
In addition to the slow mall traffic in the U.S., the company--which is focusing its marketing and promotional efforts on earrings, rings and necklaces--said introducing fewer new bracelets and charms for Valentine’s Day impacted sales.
Under its new reporting structure, Pandora no longer breaks out the number of “multi-branded stores”--a group that included the independent jewelers who carry the brand but don’t have shop-in-shops--in each market.
This metric has been a particular point of interest for independents in the U.S., many of whom have been cut out of Pandora’s distribution network in recent years.
Instead, Pandora now gives a count of concept stores in its largest markets and a global tally of what it now classifies under “other points of sale,” which includes multi-branded stores as well as shop-in-shops.
According to the figures released Tuesday, Pandora had 349 concept stores in the U.S. as of the end of the first quarter, compared with 328 a year ago, a 6 percent increase.
Globally, its other points of sale have shrunk by 16 percent in that same time frame, from 7,174 to 5,993.
The company also said it acquired 33 franchise concept stores in Q1, including 18 in the United States. It said revenue in company-owned and -operated concept stores is, on average, nearly 2.5 times higher than the revenue from a comparable concept store owned by a franchisee.
Globally, Pandora saw first quarter sales increase 9 percent (8 percent in local currency) year-over-year to $754 million. Revenue from Pandora-owned retail stores now represents 38 percent of total revenue.
A strong performance in the Asia-Pacific region and strength in ring, earring and necklace sales helped to offset the brand’s
Editors' Picks
Sponsored by
relatively weak performance in the United States and the slowdown in charm and bracelet sales.
Gross margin was 73.3 percent, down from 74.6 percent in the first quarter 2016, while EBITDA increased 7 percent to $274.6 million.
“We are very pleased with the performance in our important growth markets, with Italy, France and China continuing to show strong sales growth,” CEO Anders Colding Friis said in a company statement. “However, the retail climate in the U.S. remains difficult, which was reflected in our performance.”
During the first quarter, Pandora opened a second factory in Thailand and announced its expansion into India through a partnership with Pan India Charms & Jewellery Private Limited (Pan India).
The company’s guidance for 2017 remains unchanged. The Denmark-based bead and jewelry brand expects full-year sales to range from $3.36 billion to $3.50 billion, up from $2.92 billion last year.
Pandora plans to open 275 new concept stores in 2017, 25 percent (about 69 stores) of which will be located in the Americas.
Of those 275 stores opening globally, about half will be owned by Pandora, while the remaining 50 percent will be split equally between franchisees and third-party distributors.
Gross margin was 73.3 percent, down from 74.6 percent in the first quarter 2016, while EBITDA increased 7 percent to $274.6 million.
“We are very pleased with the performance in our important growth markets, with Italy, France and China continuing to show strong sales growth,” CEO Anders Colding Friis said in a company statement. “However, the retail climate in the U.S. remains difficult, which was reflected in our performance.”
During the first quarter, Pandora opened a second factory in Thailand and announced its expansion into India through a partnership with Pan India Charms & Jewellery Private Limited (Pan India).
The company’s guidance for 2017 remains unchanged. The Denmark-based bead and jewelry brand expects full-year sales to range from $3.36 billion to $3.50 billion, up from $2.92 billion last year.
Pandora plans to open 275 new concept stores in 2017, 25 percent (about 69 stores) of which will be located in the Americas.
Of those 275 stores opening globally, about half will be owned by Pandora, while the remaining 50 percent will be split equally between franchisees and third-party distributors.
More on Financials
The Latest
TrendsJul 24, 2026
Amanda’s Style File: Ode to ‘The Odyssey’From coin pendants to diamond shields, these old world-inspired jewels are the perfect accessory for an epic journey.
TrendsJul 24, 2026
Courtney Leidy’s Silk Cord Pendants Center Unexpected Pairings Our Piece of the Week pairs a checkerboard-cut amethyst with an ivy green silk cord.
Brought to you by
Wedding Band Trends 2026: Personalization Takes Center StageColored gemstones, artisan finishes, mixed metals, and meaningful details are shaping demand in bridal jewelry.
PodcastsJul 23, 2026
Episode 7: Reinhold Jewelers on the Power of RelationshipsMildred Marcano Abrams and Yael Reinhold join the podcast to talk community connections, holiday plans, and preserving Reinhold’s legacy.
Weekly QuizJul 23, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
SourcingJul 23, 2026
De Beers’ Production Jumps 88 Percent in Q2 Production also was up in the first half of 2026 but is expected to “substantially” decrease in H2 as two key mines undergo maintenance.
CollectionsJul 23, 2026
Silvia Furmanovich’s New Collection Travels Back to the 1920s“Art Deco” fuses ancestral techniques, rare materials, and modern perspectives as a tribute to the optimism and curiosity of the movement.
Brought to you by
Building the Future of Jewelry Retail: DCA Expands Education, Leadership Development, and Workforce SolutionsDCA is preparing the next generation of professionals by supporting workforce development, leadership growth, and career advancement.
IndependentsJul 23, 2026
Sissy's Log Cabin Opens Casino StoreThe jeweler’s newest store is inside Arkansas’ Saracen Casino Resort.
WatchesJul 23, 2026
Movado Inks Licensing Deal With Kate Spade New YorkThe watch company will design, manufacture, and distribute Kate Spade New York watches.
Policies & IssuesJul 22, 2026
Trump to Put 50% Tariff on Canadian Goods The higher tax is set to go into effect in August and will apply to loose polished diamonds as well as precious and base metals jewelry.
CollectionsJul 22, 2026
Monica Rich Kosann’s High Jewelry Is FruitfulThe “Enchanted Garden” series features a cherry, lemon, and pear that each hold a little secret inside.
IndependentsJul 22, 2026
Liljenquist Beckstead Opens Rolex New BoutiqueIt’s located in Tysons Galleria, an upscale shopping center in the Washington, D.C., metro area.
Events & AwardsJul 22, 2026
NY Now Returns in August Under New OwnershipThe show, recently acquired by Rockview Management Group, will be held at New York City’s Javits Center from Aug. 2-4.
ColumnistsJul 21, 2026
Sherry Smith: Shattering the Illusion of the ‘Either/Or’ Diamond MarketSmith offers retailers guidance on creating an environment where natural and lab-grown diamonds can both thrive.
Events & AwardsJul 21, 2026
Apollo Funds Completes Emerald AcquisitionFormer Emerald President and CEO Hervé Sedky has transitioned to the role of senior advisor.
CollectionsJul 21, 2026
Graff’s New Butterfly High Jewelry Brooches MetamorphosizeThe 12-piece capsule collection transforms from brooches to pendants.
SourcingJul 21, 2026
Anglo Reportedly Selects Gareth Penny’s Consortium as Top Bidder for De BeersA Botswana government official told lawmakers Anglo has selected The Global Diamond Consortium, an entity chaired by Penny, to buy De Beers.
Policies & IssuesJul 20, 2026
Tariffs on Brazil to Increase But Rough Gemstones ExemptThe new tariff, imposed after a Trump administration study, is 25 percent and will stack on top of existing tariffs.
CollectionsJul 20, 2026
Vhernier Transforms ‘Freccia’ Collection Into High JewelryThe collection from 2014 has been reinterpreted into high jewelry with its signature triangular-shaped elements.
MajorsJul 20, 2026
Krista Collins Walters Promoted to Publisher of InstoreShe will also take on the role of vice president of jewelry for SmartWork Media, a newly created position.
Events & AwardsJul 20, 2026
TJS Accepting Speaker Proposals for 2027 EventOrganizers are looking for presentations on topics like manufacturing, technology and research, bench work, gemstones, and sustainability.
CollectionsJul 17, 2026
HOWL Taps Shailene Woodley for ‘Home Sweet Home’ CampaignWoodley is seen in the campaign wearing our Piece of the Week, the “Frida” collar featuring 13 pieces of hand-carved Venetian glass.
SourcingJul 17, 2026
U.K. Woman Pays £5 for £15K Diamond Ring at Car Boot SaleA WeBuyVintage jewelry expert uncovered how much the flea market find was actually worth.
SourcingJul 17, 2026
Diamond Dealer Jeff Pancis Pens MemoirThe founder of natural colored diamond wholesaler Pancis Gems shares stories from his five decades in the industry.
Events & AwardsJul 17, 2026
Gem Awards Opens 2027 Nomination PeriodSubmissions for the milestone 25th annual Gem Awards will be accepted across three categories from now through July 31.
EditorsJul 16, 2026
Q&A: Guzema’s Co-Owners On Its US Expansion, 10-Year AnniversaryValeriya Guzema and Mariana Lenha look back on the last decade and discuss the Ukrainian brand’s first U.S. store.
