With the increasingly fierce market competition, Pandora, the black jewelry industry leader for two consecutive years, has to face up to its own problems and take action.
According to Danish jewelry brand Pandora (PNDORA. CPH) on Tuesday, the fourth quarter and full-year earnings data of fiscal year 2018 were released.
In the three months ending December 31, Pandora’s sales fell 7% to 7.89 billion Danish kroner from a year earlier, and its annual comparable revenue fell 4% to 22.8 billion Danish kroner, or about $3.484 billion. This means that Pandora has stopped double-digit growth and recorded a decline in sales in four years, with EBITDA’s profit margin of 32.5% and net profit of 12.5% to 5.04 billion Danish kroner.
Obviously, Pandora, who failed to keep up with market trends in time, has begun to lag behind. In fiscal year 2017, Pandora’s sales grew 12% to 22.78 billion Danish kronor, or about $3.79 billion, compared with 21% in fiscal year 2016. EBITDA’s profit margin was 37.3%.