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COPENHAGEN - Danish jewelry maker Pandora delivered 6% organic revenue growth in the third quarter of 2025, maintaining its momentum despite challenging macroeconomic conditions, according to a company press release.
The growth comprised 2% like-for-like (LFL) sales growth and 4% from network expansion. The United States and Rest of Pandora markets showed robust LFL growth of 6%, while Europe recorded a 1% decline, with several countries including Spain, Portugal, and Poland offsetting weakness in other European markets.
Pandora reported quarterly revenue of DKK 6,269 million with an EBIT margin of 14.0%, down 210 basis points year-over-year. The company attributed the margin decline to a 380 basis point headwind from foreign exchange, commodities, and tariffs. Earnings per share decreased 14% as reported, though it increased 5% in constant currency.
The company maintained its full-year 2025 guidance of 7-8% organic growth, though it adjusted expectations for like-for-like growth to 3-4%, down from the previous 4-5% forecast. Network expansion is now expected to contribute 4%, up from 3%. The EBIT margin guidance remains unchanged at "around 24%."
For 2026, Pandora revised its EBIT margin target from "at least 24%" to "around 23%" due to additional commodity and foreign exchange headwinds.
In October, the company reported 4% like-for-like growth. Pandora also noted the introduction of two new sub-collections in late Q3 - Pandora Talisman and Pandora Minis - which the company said received "an encouraging response."
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