A double-digit drop in the number of in-store crimes was offset by a jump in off-premises attacks, JSA’s 2023 crime report shows.
Pandora Raises Q2 Forecast as Sales Improve
With most of its stores reopened and traffic improving, the company is predicting a brighter-than-expected second quarter.
Copenhagen, Denmark—Pandora is forecasting a better-than-expected second quarter as its stores reopen and sales improve.
The company released its preliminary second-quarter results Wednesday, outlining how the jeweler has fared so far amid the coronavirus pandemic.
Quarterly sales were down 40 percent year-over-year, though the company highlighted a partial rebound in May and June.
Its positive growth has continued with its performance in June surpassing that of the previous two months.
Its online sales have done particularly well, posting a 176 percent in organic growth for the quarter.
“The online business is firing on all cylinders, and this is a resilient channel that we can continue to push very hard,” said CEO Alexander Lacik during Pandora’s first-quarter earnings call in May.
The jeweler plans to invest more in its digital capabilities, including tech and data analytics, as part of its multipronged turnaround plan announced back in March.
Its physical stores have gradually reopened; 86 percent of its open concept stores, those owned by Pandora and franchise owned, are now open.
The company is implementing health and safety guidelines like social distancing in its locations, which it said has impacted its ability to serve customers, particularly during peak periods.
Traffic in the reopened stores is slowly improving, Pandora said.
The retailer has increased its media spending as markets have reopened “to gain early commercial momentum as consumers are returning to stores.”
Pandora updated its earnings guidance for the second quarter, expecting its EBIT (earnings before interest and taxes) before restructuring costs to be “roughly breakeven” compared with its previous guidance for negative EBIT.
The company cited the reopening of markets, quicker-than-expected traffic recovery, and its strong online sales as the reasons behind its brighter forecast.
Pandora said it will continue to suspend its 2020 financial guidance since the macroeconomic environment and future COVID-19 developments are “highly uncertain.”
The company will release its full second-quarter report Aug. 18.
The Latest
Inspired by the Roman goddess of love, the designer looked to the sea for her new collection.
The selected nine organizations have outlined their plans for the funds.
With Ho Brothers, you can unlock your brand's true potential and offer customers the personalized jewelry experiences they desire.
The mining company’s Diavik Diamond Mine lost four employees in a plane crash in January.
The crown introduced a dozen timepieces in Geneva, including a heavy metal version of its deep-sea divers’ watch.
Emmanuel Raheb recommends digging into demographic data, customizing your store’s communications, and retargeting ahead of May 12.
For over 30 years, JA has advocated for the industry, fought against harmful legislation and backed measures that help jewelry businesses.
Located in the town of Queensbury, it features a dedicated bridal section and a Gabriel & Co. store-in-store.
A 203-carat diamond from the alluvial mine in Angola achieved the highest price.
Ruser was known for his figural jewelry with freshwater pearls and for his celebrity clientele.
The “Rebel Heart” campaign embodies rebellion, romance, and sensuality, the brand said.
Editor-in-Chief Michelle Graff shares the standout moments from the education sessions she attended in Austin last week.
The overhaul includes a new logo and enhanced digital marketplace.
The money will go toward supporting ongoing research and aftercare programs for childhood cancer survivors.
A new addition to the “Heirloom” collection, this one-of-a-kind piece features 32 custom-cut gemstones.
Last month in Dallas, David Walton pushed another jeweler, David Ettinger, who later died.
The move will allow the manufacturing company to offer a more “diverse and comprehensive” range of products.
From now through mid-May, GIA will be offering the reports at a 50 percent discount.
De Beers’ rough diamond sales were down 18 percent year-over-year in its latest round of sales.
Sponsored by the Las Vegas Antique Jewelry & Watch Show
The Patek Philippe expert will serve as personal curator for the brand-focused company.
The 553-square-foot shop is aboard the Carnival Jubilee cruise ship.
NDC filed a complaint against Skydiamond for use of phrases like “diamonds made entirely from the sky.”
John Carter received the AGS’s highest honor Tuesday afternoon at Conclave in Austin, Texas.
B&D Sales and Service held a ribbon-cutting event for its new location in Cranston, Rhode Island.
It’s ultra-feminine and filled with gold, pearls, and soft pastels.