FinancialsAug 08, 2025
Brilliant Earth’s Q2 Sales Up 3% as Engagement Ring Sales RiseThe company raised its full-year sales guidance while noting it has not yet assessed the potential impact of the latest tariff news.
MajorsMar 19, 2020
Pandora Closes US Stores as COVID-19 Escalates
The jeweler also has scrapped its previously stated financial guidance in the wake of the pandemic.
Pandora said its previously stated financial guidance is “no longer meaningful” as it did not take into consideration the effects of the coronavirus.
Copenhagen, Denmark—Pandora has closed its U.S stores for the next two weeks in light of coronavirus concerns, the company announced Wednesday.
Its stores in Italy, Spain, Germany and France are also closed temporarily while in China, Pandora stores have reopened and traffic is slowly improving, it said.
Pandora said it would encourage its franchisees and partners in affected markets to voluntarily close as well.
The company’s jewelry is sold in more than 100 countries through 7,400 points of sale, including 2,700 concept stores.
Its manufacturing facilities in Thailand and regional distribution centers continue to operate without “notable impact,” and Pandora’s online store is still up and running.
Many of the jeweler’s 28,000 employees are working from home and all business travel has been put on hold.
In a letter addressed to the Pandora community, CEO Alexander Lacik said the company will continue scheduled base pay for at least eight weeks for staff that has been sent home.
If the stores remain closed past that point, Lacik said Pandora may adjust its approach and, where available, make use of government relief programs to help pay employees.
The company is scheduled to release its first-quarter results on May 5, but has scrapped its most recent financial guidance as the escalation of the coronavirus weighs on its performance.
The Danish jeweler did not account for how widespread the impact of the coronavirus would be when it provided guidance in February.
The company expected like-for-like sales to improve from their 8 percent dip in 2019 to a negative “mid-single-digit” result in 2020 while organic growth was expected to be down 3 to 6 percent.
Pandora did not provide an updated financial forecast, but did share insight into how it has fared in recent months.
The company said its performance was strong in January and February, especially online sales, and the company reported positive like-for-like sales in some key markets.
Total like-for-like sales, excluding China, were better than expected but the spread of the coronavirus has led to weakness across all markets in recent weeks.
RELATED CONTENT: Pandora Trims Workforce Again Amid ReorganizationLike-for-like sales in China have dropped 70 to 80 percent since late January. Though revenue has improved slightly in China, the company said a return to normalcy will take time and is, ultimately, out of its control.
Pandora’s top three markets, the United States, United Kingdom and Italy, have all been grappling with the coronavirus outbreak.
Markets affected by lockdowns and other governmental
Editors' Picks
Sponsored by
restrictions are expected to generate “negligible” revenue.
Nevertheless, Pandora expects to maintain strong profitability in the first quarter of 2020 and said it can absorb several months of a downturn in in-store traffic while still remaining profitable and generating cash for the full year.
Nevertheless, Pandora expects to maintain strong profitability in the first quarter of 2020 and said it can absorb several months of a downturn in in-store traffic while still remaining profitable and generating cash for the full year.
More on Majors
The Latest
Events & AwardsAug 08, 2025
GJEPC’s Jewellers for Hope Celebrates 10 Years of FundraisingThe organization has raised more than $1.3 million for charity since its inception.
TrendsAug 08, 2025
Piece of the Week: Rahaminov Diamonds’ Bezel BangleThe brand’s latest iteration of a bezel-set diamond bangle features clean lines and a timeless design for a new modern silhouette.
Brought to you by
Taking the Moment Head On: How Rio Grande Champions the Present & Future of Fine JewelryAs a leading global jewelry supplier, Rio Grande is rapidly expanding and developing new solutions to meet the needs of jewelers worldwide.
WatchesAug 07, 2025
Bulova’s New Collection Honors Tony BennettThe first watch in the series commemorates his participation in the Civil Rights movement, marching from Selma to Montgomery in 1965.
Weekly QuizAug 08, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Lab-GrownAug 07, 2025
Chatham Releases Catalog for Loose Lab-Grown GemstonesThe catalog contains a complete listing of all the loose gemstones in stock, as well as information about the properties of each stone.
TechnologyAug 07, 2025
Rembrandt Charms Debuts New Website, Bird CharmsThe company added a retailer dashboard to its site and three new birds to its charm collection, the cardinal, blue jay, and hummingbird.
Brought to you by
Investing in the Next Generation of Bench JewelersThe Seymour & Evelyn Holtzman Bench Scholarship from Jewelers of America returns for a second year.
Policies & IssuesAug 06, 2025
Tariff on India to Rise to 50%, Trump Says An additional 25 percent tariff has been added to the previously announced 25 percent.
IndependentsAug 06, 2025
Smith & Son Jewelers to Close 107-Year-Old Location Its Springfield, Massachusetts, store is set to close as owner Andrew Smith heads into retirement.
CollectionsAug 06, 2025
Zahn-Z Swims With Whales in ‘Beluga’ CollectionDesigner Hiba Husayni looked to the whale’s melon shaped-head, blowhole, and fluke for her new chunky gold offerings.
TrendsAug 06, 2025
Paola De Luca to Release Trendbook 2027+She will present the 23rd edition of the trend forecasting book at Vicenzaoro on Sept. 7.
CrimeAug 05, 2025
Report: Suspect Arrested in 1992 Murder of Miami JewelerOmar Roy, 72, was arrested in connection with the murder of jeweler Dionisio Carlos Valladares.
CollectionsAug 05, 2025
Mignon Faget Commemorates 20th Anniversary of Hurricane KatrinaThe New Orleans-based brand’s “Beyond Katrina” jewels honor the communities affected by the storm.
ColumnistsAug 05, 2025
The PR Adviser: Affiliate Marketing Is the Cost of CoverageLilian Raji explains why joining an affiliate network is essential for brands seeking placements in U.S. consumer publications.
Events & AwardsAug 05, 2025
JA Announces Seymour & Evelyn Holtzman Bench Scholarship WinnersThe organization has awarded a total of $42,000 through its scholarship programs this year.
Events & AwardsAug 04, 2025
Gem Awards, David Yurman Introduce $50K Grant for Emerging DesignersThe winner of the inaugural David Yurman Gem Awards Grant will be announced live at the 2026 Gem Awards gala.
TrendsAug 04, 2025
Amanda’s Style File: August’s Bright BaublesAs summer winds down, celebrate the sunny disposition of the month’s birthstones: peridot and spinel.
CrimeAug 04, 2025
‘The Watch King’ Assaulted, Robbed in QueensMoshe Haimoff, a social media personality and 47th Street retailer, was robbed of $559,000 worth of jewelry by men in construction outfits.
MajorsAug 01, 2025
Helzberg President Julie Yoakum Moves Over to Signet JewelersThe addition of Yoakum, who will lead Kay and Peoples, was one of three executive appointments Signet announced Thursday.
MajorsAug 01, 2025
Jewelers Mutual Names Mike Alexander as President The insurance company’s previous president and CEO, Scott Murphy, has split his role and will continue as CEO.
SourcingAug 01, 2025
Gemfields’ Auction Revenue Drops 50% in H1The nearly six-month pause of operations at its Kagem emerald mine earlier this year impacted the miner’s first-half results.
CollectionsAug 01, 2025
Piece of the Week: Hernsdorf’s ‘Tears of Aphrodite’ NecklaceThe necklace uses spinel drops to immortalize the moment Aphrodite’s tears mixed with her lover Adonis’ blood after he was fatally wounded.
SourcingJul 31, 2025
De Beers Records $189M First-Half Loss The diamond miner and marketer warned last week that it expected to be in the red after significantly cutting prices in Q2.
Events & AwardsJul 31, 2025
These Are the 2025 CASE Award WinnersJewelers of America’s 35th annual design contest recognized creativity, artistry, style, and excellence.
IndependentsJul 31, 2025
Matthew Tratner Takes Over as CBG President Tratner succeeds Andie Weinman, who will begin stepping back from the buying group’s day-to-day operations.
Policies & IssuesJul 30, 2025
Tariff on India Will Be 25%, Trump Says The president made the announcement via Truth Social Wednesday, adding that India also will face a penalty for its dealings with Russia.
