Jewelry maker Pandora lifted its full-year outlook but disappointing in-store sales in the third quarter worried investors
, the world's largest jewellery maker by production capacity, fell sharply on Monday as investors were concerned about weak sales growth at its own stores in the third quarter.
Pandora's shares had surged 40% this year as the company had seen sales top pre-pandemic levels since shops reopened after lockdowns.Still, the company said it had continued to see strong sales in the United States, its biggest market, in the third quarter as massive government stimulus and vaccinations against COVID-19 fuelled spending on goods and services.The Pandora logo is seen in jewellery shop in downtown Rome, Italy, August 7, 2018.
"COVID-19 and the unusually high level of U.S. growth continue to create increased uncertainty around the guidance," it added.
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