Recovery signs boost Danish jewelry maker Pandora despite profit drop. Read more:
COPENHAGEN - Smaller sales declines in key markets Britain and Italy and a step up in restructuring efforts helped to lift Danish jewelry maker Pandora’s beaten down shares on Tuesday, despite a drop in second-quarter earnings.Pandora, best known for its customizable silver charm bracelets, is struggling after new jewelry lines failed to entice shoppers, but is buying back older ranges from franchises and slimming down collections to try to improve its performance.
However, like-for-like sales in Britain and Italy were down 8% and 10% respectively, compared with first quarter slumps of 13% and 22%, after a pick up in marketing spending. “We got a very strong return on investment,” he added, saying the initiative would be implemented across other key markets. A Pandora sign is seen at the company's headquarters in Copenhagen, Denmark April 8, 2019. REUTERS/Jacob Gronholt-Pedersen
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