
Copenhagen—Pandora A/S, the Danish jewelry company known for its build-a-charm bracelet concept, raised this week its 2011 sales projections based upon its strong sales performance in its first quarter.
The company, which went public on the Danish stock exchange last year, now expects to raise full-year sales by 30% against 2010, compared with a previous expectation of 25% sales growth. In its first quarter, sales grew by more than 40% compared with the same quarter 2010. The company's core earnings margin guidance remains unchanged at 40%. A full financial report for the first quarter 2011 was released on May 19.
About Pandora:
Pandora designs, manufactures and markets hand-finished and modern jewelry made from sterling silver, 14k gold etc. Pandora jewelry is sold in more than 55 countries on six continents through more than 10,000 points of sale, including more than 420 Pandora branded concept stores.
Founded in 1982 and headquartered in Copenhagen, Denmark, Pandora employs more 5,000 people worldwide, including more than 3,600 who are located in Gemopolis, Thailand, where the company manufactures its jewelry. Pandora is publicly listed on the NASDAQ OMX Copenhagen stock exchange in Denmark. In 2010, Pandora’s total revenue was approximately $1.2 billion. www.pandoragroup.com.
Source: Just-Style.com