SurveysApr 01, 2026
Consumers’ Outlook Improves Again in MarchThe Conference Board’s Consumer Confidence Index edged up, with optimism about the present outweighing worries about the future.
FinancialsFeb 04, 2021
Pandora’s 2020 Sales Sink Despite Strong Online Performance
The Danish jewelry company is approaching 2021 with caution as COVID-19 restrictions linger.
Physical traffic into Pandora-owned retail stores was down 60 percent year-over-year in the fourth quarter but the conversion rate was up, the company noted in releasing its Q4 and full-year results Thursday.
Copenhagen, Denmark—Pandora’s online sales nearly doubled in the fourth quarter and for the year, but the Danish jeweler is approaching fiscal 2021 with caution as COVID-19 restrictions continue to weigh on revenue growth.
Fourth-quarter revenue was down 1 percent year-over-year to 7.89 billion Danish kroner ($914.08 million) compared with 7.96 billion kroner ($921.6 million) in the fourth quarter last year.
Quarterly like-for-like sales were up 6 percent year-over-year. (Like-for-like represents true comparable sales from stores that have been open for at least a year, excluding currency fluctuations.)
The strong finish and jump in digital sales were not enough, however, to completely offset the loss in sales caused by COVID-19.
Full-year revenue fell 13 percent to 19.01 billion Danish kroner ($2.2 billion) compared with 21.87 billion kroner ($2.53 billion) in the previous period.
Like-for-like sales were up 1 percent.
CEO Alexander Lacik described the year as “truly challenging,” noting the company was in the middle of its turnaround program while dealing with the COVID-19 pandemic and a change to its organizational structure and its operating model.
“Despite these significant disruptions, we managed to navigate the business to a very strong performance, leading to market share gains in many markets,” said Lacik in a press release about the results.
“We continue to invest strongly in building the brand desirability, digital capabilities and operational excellence, all of which will be key foundations as we gradually move from transformation to growth mode.”
By product category, sales of charms were down 4 percent in the quarter and down 15 percent for the full year.
Bracelet sales were up 4 percent in Q4 but down 11 percent for the full year.
In the ring category, quarterly sales slipped 1 percent while annual sales fell 11 percent, while earring sales were up 3 percent in the quarter and down 11 percent for the full year.
Sales of necklaces and pendants were up 5 percent in the quarter, but down 8 percent for the full year.
By sales channel, Pandora-owned retail stores, including the online store, brought in 5.53 billion Danish kroner ($640 million) in the fourth quarter, up 6 from the previous year.
For the full year, retail sales were down 5 percent year-over-year to 13.43 billion Danish kroner ($1.56 billion).
Wholesale sales in the fourth quarter fell 14 percent to 2.14 billion Danish kroner ($248.2 million). For the full year, wholesale sales sank 26 percent to 4.95 billion Danish kroner ($573.2 million)
During the fourth quarter, more
than 10 percent of Pandora’s physical stores were closed due to COVID-19 restrictions.
The traffic into Pandora-owned physical stores plummeted 60 percent year-over-year in the fourth quarter, though Pandora noted the conversation rate was higher.
The company operated 2,690 stores as of the fourth quarter, 80 fewer when compared with the previous fourth quarter.
Online sales nearly doubled in the quarter, up 94 percent to 2.53 billion Danish kroner ($293.4 million), and accounted for 32 percent of total revenue.
For the full year, online sales were up 97 percent to 5.48 billion Danish kroner ($635.1 million), accounting for 29 percent of revenue.
In the United States, Pandora’s largest market accounting for 25 percent of total revenue, sales were strong in the fourth quarter with online shopping and curbside pickup alleviating the sting of COVID-19-related restrictions.
The Star Wars collection, released in October 2020, was especially well-received.
Quarterly revenue in the U.S. totaled 1.98 million Danish kroner ($229.6 million), up 11 percent year-over-year.
For the full year, U.S. revenue fell 4 percent to 4.51 billion Danish kroner ($521.9 million).
Looking ahead, Pandora said it expects to return to top-line growth, but remains wary of the effects of the COVID-19 pandemic.
The traffic into Pandora-owned physical stores plummeted 60 percent year-over-year in the fourth quarter, though Pandora noted the conversation rate was higher.
The company operated 2,690 stores as of the fourth quarter, 80 fewer when compared with the previous fourth quarter.
Online sales nearly doubled in the quarter, up 94 percent to 2.53 billion Danish kroner ($293.4 million), and accounted for 32 percent of total revenue.
For the full year, online sales were up 97 percent to 5.48 billion Danish kroner ($635.1 million), accounting for 29 percent of revenue.
In the United States, Pandora’s largest market accounting for 25 percent of total revenue, sales were strong in the fourth quarter with online shopping and curbside pickup alleviating the sting of COVID-19-related restrictions.
The Star Wars collection, released in October 2020, was especially well-received.
Quarterly revenue in the U.S. totaled 1.98 million Danish kroner ($229.6 million), up 11 percent year-over-year.
For the full year, U.S. revenue fell 4 percent to 4.51 billion Danish kroner ($521.9 million).
Looking ahead, Pandora said it expects to return to top-line growth, but remains wary of the effects of the COVID-19 pandemic.
More on Financials
The Latest
AuctionsApr 01, 2026
John Jacob Astor IV’s Titanic Pocket Watch Heads to AuctionA Patek Philippe for Tiffany & Co. timepiece owned by the American businessman who died on the Titanic will be offered at Freeman's Chicago.
IndependentsApr 01, 2026
Zachary’s Jewelers’ Constance Polamalu to Release Children’s BookThe retailer’s Zach Bear gift comes to life in “Zach Bear and the Window Necklace,” which centers on curiosity, bravery, and helping.
Brought to you by
Protect Your Customers and Your BusinessYou deserve to know what you are selling–to protect your customers as well as your business and your reputation.
MajorsApr 01, 2026
Foundrae Sues Pandora for Allegedly Copying Its Medallion DesignsFoundrae also accused the jewelry giant of copying its mood board style of marketing.
Weekly QuizMar 26, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Events & AwardsApr 01, 2026
AGA Opens 2026 Gemological Scholarship, Research Grant ApplicationsApplications are open for the AGA Gemological Scholarship Program through May 15, and until June 2027 for the Gemological Research Grant.
ColumnistsMar 31, 2026
Q1 Clues That Reveal Where Your Jewelry Store’s Sales Are Heading These customer behavior patterns say a lot about how successful your jewelry store is going to be this year, Emmanuel Raheb writes.
Brought to you by
Is This You? Every Jeweler Has This Problem; We Have the Solution.Every jeweler faces the same challenge: helping customers protect what they love. Here’s the solution designed for today’s jewelry business.
CollectionsMar 31, 2026
Mejuri Adds Silver to ‘Puzzle’ CollectionMejuri’s popular collection of 18-karat yellow gold vermeil rings debuted in sterling silver alongside new “Puzzle” slider charms.
CollectionsMar 31, 2026
Buddha Mama, Ashley Longshore to Host Pop-Up in DallasThe Miami-based jewelry brand and the NYC-based artist will be in Dallas from April 9-11.
SourcingMar 31, 2026
NDC Designates April 8 as 'World Diamond Day'The initiative invites those in the industry to share stories on social media highlighting the meaning and impact of natural diamonds.
SourcingMar 31, 2026
GIA VP Jillian Wolk to Take Over at Tracr Wolk’s first day on the job as CEO of Tracr, De Beers Group’s blockchain platform, will be May 1.
EditorsMar 30, 2026
Tom Moses Looks Back on His Decades at GIA Moses, who will leave the lab in May after nearly 50 years, discusses his start in the business, gemstones that stand out, and what’s next.
TrendsMar 30, 2026
Oscar Heyman Debuts First Spring CatalogThe new catalog, which showcases 35 one-of-a-kind pieces of jewelry, is a compliment to the company’s popular holiday catalog.
SourcingMar 30, 2026
Rio Tinto Hauls Last Load from DiavikProduction has ceased at the Canadian diamond mine, which has yielded more than 150 million carats of rough diamonds in its 23-year run.
MajorsMar 30, 2026
Tanishq Opens First New England LocationThe store opening marks the 10th United States location for the India-based jewelry retailer.
MajorsMar 27, 2026
Saks Global Has Changed Its Mind About Closing These 3 StoresTwo Saks Fifth Avenue locations, one in Florida and one in California, and one Neiman Marcus store are off the chopping block.
IndependentsMar 27, 2026
Jimmy West, Longtime LJG Executive Director, Dies at 72West, who started in the art department at the Leading Jewelers Guild in 1979, is remembered for his patience, kindness, and dedication.
CollectionsMar 27, 2026
Itä’s ‘Yarí Whirl’ Ring Tells Every Side of the StoryIn the “Tesoro” version of the ring, our Piece of the Week, each side of the gold hexagonal nugget has a unique colored gemstone design.
WatchesMar 26, 2026
Q&A: Citizen Watch America President Jeffrey Cohen on Eco-Drive’s 50th AnniversaryCohen discusses the evolution of Citizen’s light-powered technology, the brand’s cross-generational appeal, and tariffs.
IndependentsMar 26, 2026
Peter Smith Pens Book on Human Behavior in Sales“Essentially Human: On Sales and Salespeople" reveals the underlying human traits and behaviors of the most successful sales professionals.
CollectionsMar 26, 2026
Lionheart Celebrates 13 Years of ‘Cassandane’The collection features symbols of love, luck, and light, based on the story of Queen Cassandane and Cyrus the Great of Persia.
Events & AwardsMar 26, 2026
NAJA, Instappraise Introduce New ScholarshipIt’s the third scholarship to be launched as part of the partnership to help appraisers advance their professional credentials.
Events & AwardsMar 26, 2026
JA Still Accepting Entries for 2026 CASE AwardsThe deadline for entries in the jewelry design competition has been extended to April 3.
SourcingMar 25, 2026
Rob Bates Steps Down as JCK News Director After 28 years with JCK, the veteran industry journalist is launching his own publication on Substack called The Jewelry Wire.
GradingMar 25, 2026
New York’s Natural History Museum, Wiley To Build Minerals DatabaseWiley said the project will give scientists worldwide access to the American Museum of Natural’s History renowned mineral collection.
CollectionsMar 25, 2026
Boochier Turns Flower Friendship Bracelets Into Fine JewelryThe “Flower Puff” collection looks to beaded flower friendship bracelets from childhood, turning the silhouette into nostalgic fine jewelry.
