TrendsDec 11, 2025
Pinterest 2026 Trend Report: Brooches, Bold Gold, Cool BlueIn its annual report, Pinterest noted an increase in searches for brooches, heirloom jewelry, and ‘80s luxury.
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
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
GradingDec 11, 2025
GIA to Offer Origin Determination for 3 More GemstonesStarting Jan. 1, customers can request the service for opal, peridot, and demantoid garnet.
IndependentsDec 11, 2025
Look Inside Day’s Jewelers’ Ninth StoreThe 111-year-old retailer celebrated the opening of its new location in Salem, New Hampshire, which is its third store in the state.
Brought to you by
Impacting Tomorrow TodayHow Jewelers of America’s 20 Under 40 are leading to ensure a brighter future for the jewelry industry.
MajorsDec 11, 2025
Americas Gold Releases New Gold Chain CatalogThe new catalog features its most popular chains as well as new styles.
Weekly QuizDec 04, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
AuctionsDec 10, 2025
Francis Ford Coppola’s Watch Sells for $10.8MThe filmmaker’s personal F.P. Journe “FFC” prototype was the star of Phillips’ recent record-setting watch auction in New York.
WatchesDec 10, 2025
There’s A New Rolex Boutique in MiamiThe new location in the Design District pays homage to Miami’s Art Deco heritage and its connection to the ocean.
Brought to you by
Roseco Releases New Full-Line CatalogRoseco’s 704-page catalog showcases new lab-grown diamonds, findings, tools & more—available in print or interactive digital editions.
SurveysDec 10, 2025
Consumer Confidence Drops in November Inflations, tariffs, and politics—including the government shutdown—were among consumers’ top concerns last month.
SourcingDec 10, 2025
NAJA Announces Details for 2026 ‘Ace It’ Winter Conference“Longtime favorite” presenters, as well as first-time speakers, will lead talks and workshops at the annual event in Tucson next year.
Events & AwardsDec 10, 2025
MJSA Names 2025 Responsible Design Challenge WinnerSilas Smith of Meridian Metalworks won the challenge with his pendant that blends Australian and American landscapes.
AuctionsDec 09, 2025
‘Desert Rose’ Diamond Sells for $8.8M in Abu DhabiThe sale of the 31.68-carat, sunset-hued stone was part of Sotheby’s first series of events and auctions in Abu Dhabi.
ColumnistsDec 09, 2025
Holiday Sales Happen in December, Most Decisions Don’tMost customers who walk into your store this month have made up their minds. Your job is to validate their choice, Emmanuel Raheb writes.
TrendsDec 09, 2025
‘Once Upon a Time,’ Guzema Debuted Its Holiday CollectionThe collection features characters and motifs from Ukrainian folklore, including an enchanted mirror and a magic egg.
TechnologyDec 09, 2025
Gemvision Releases Updated MatrixGoldMatrixGold 3.11, the newest version of the jewelry design program, offers more flexibility, precision, and creative control.
Events & AwardsDec 09, 2025
MJSA Showcase Pavilion Returning to JA New York The pavilion will be part of the 2026 JA New York Spring show, scheduled for March 15 to 17.
MajorsDec 08, 2025
Juell Kadet, a ‘Lifelong Pillar’ of Rogers & Hollands, Dies at 96Kadet, a 1994 National Jeweler Retailer Hall of Fame inductee, helped grow the family-owned retailer in the Chicago area and beyond.
TechnologyDec 08, 2025
You’ve Heard of Smart Watches and Rings; Meet Smart EarringsBilled as the world’s smallest wearable, Lumia Health’s new smart earrings have a health tracker subtly embedded in the back.
TrendsDec 08, 2025
Amanda’s Style File: Celebrating December’s BirthstonesDon’t let those with December birthdays feel blue. Help them celebrate their month with blue zircon, turquoise, and tanzanite.
CollectionsDec 05, 2025
Piece of the Week: Robinson Pelham’s ‘Tsar Star’ EarringsThe new pink sapphire version of the piece dances with its wearer in the brand’s “Icons After Dark” holiday campaign.
TrendsDec 05, 2025
Pantone’s Color of the Year for 2026 Is … WhiteA choice that’s generated a lot of commentary, Pantone says “Cloud Dancer” marks a fresh start and encourages relaxation and creativity.
MajorsDec 05, 2025
Stuller Releases ‘Wrapped in Wonder’ CampaignThe manufacturer’s holiday campaign features a gift guide filled with trending designs and jewelry that can be personalized.
CrimeDec 04, 2025
Man Arrested After Allegedly Swallowing Fabergé Egg PendantThe man was charged with theft, accused of ingesting the necklace while in a jewelry store in Auckland, New Zealand.
IndependentsDec 04, 2025
Step Inside JR Dunn Jewelers’ Giant New Store The Florida independent expanded its store from 8,000 to 14,000 square feet, fulfilling the vision of its late co-founder, Jim Dunn.
Supplier BulletinDec 04, 2025
Introducing Shop Natural Day: A New Movement Celebrating Natural DiamondsSponsored by De Beers Group
WatchesDec 04, 2025
Casio Shrinks its G-Shock WatchThe classic 5600 series G-Shock has been scaled down to about a tenth of its size, becoming a fully functioning watch ring.
Events & AwardsDec 04, 2025
AGA Announces 2026 Tucson Speaker LineupThe association’s annual conference and gala will take place Feb. 4, 2026, during the Tucson gem shows.
