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COPENHAGEN - Danish jewellery maker Pandora reported 8% organic growth in the second quarter of 2025, maintaining solid performance despite macroeconomic challenges, according to a company press release.
The company’s like-for-like sales increased by 3%, while network expansion contributed an additional 5% to overall growth. The United States continued to show strong performance with 8% like-for-like growth, while the company’s operations outside its core markets delivered 6% growth.
European markets posted a more modest 1% like-for-like growth, though several countries including Spain, Portugal, the Netherlands, and Poland achieved double-digit increases.
Pandora’s gross margin stood at 79.3%, down slightly from 80.2% in the same period last year, reflecting a 170 basis point headwind from foreign exchange rates, commodity prices, and tariffs. The company’s EBIT margin was 18.2%, a 160 basis point year-over-year decline.
"In these turbulent times, we are satisfied with yet another quarter of high single-digit organic growth and strong profitability," said Alexander Lacik, President and CEO of Pandora, in the statement.
The jewellery maker maintained its full-year 2025 guidance of 7-8% organic growth and an EBIT margin of "around 24%," despite including a 60 basis point headwind from current tariff levels.
For the second half of 2025, Pandora plans to launch two new collections, Pandora Talisman and Minis, aimed at refreshing its core charms offering and strengthening its affordability position.
The company reported that current trading in July has seen like-for-like growth of approximately 2%, which it attributed to a weak end-of-season sale and the timing of product launches.
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