Pandora Results Beat Forecast Amıd Sales Surge
Pandora’s full-year results for 2021 have exceeded the company’s earlier predictions, as strong sales in the fourth quarter outweighed store closures and the negative impact of coronavirus restrictions.
Revenue for 2021 jumped 23% year on year on an organic basis to DKK 9 billion ($1.37 billion), surpassing the 18% to 20% rise the company originally forecast, Pandora said Monday. The strong results come after the jeweler already upped its guidance for the full year twice. The proceeds for both the full year and the fourth quarter are the highest ever for Pandora, it noted.
Sales for the full year were also 9% higher than 2019 levels, while fourth-quarter revenue surged 10% year on year and 15% compared to 2019.
The retailer’s earnings before interest and taxes (EBIT) margin — the measure of a company’s operating profit as a percentage of its revenue — climbed to 25%, just above its 24.5% high forecast.