In the three months to September 30th, the Pandora profit of the Danish jewellery brand was reduced by 3% to 1 billion 370 million Danish kranic ($217 million) from the year on year of the 8 and September hurricanes in the United States. Sales sales increased by 13% to 5 billion 190 million Danish kran about 825 million US dollars, and all product categories were recorded in double digit growth. Among them, sales of Pandora Rose series surged three times compared with the same period last year.
During the period, Germany, Italy, Australia and China recorded double-digit growth. The Group expects sales in fiscal year 2017 to be between 23 billion and 24 billion Danish kronor, which is between 2 billion 720 million and 2 billion 840 million dollars. After the release of the earnings report, Pandora’s share price plunged 4.73% to 564.4 Danish kronor, with a market capitalization of about 63 billion 500 million DKK.
In addition, Pandora disclosed in the financial report that the current expansion of globalization, the next key development target for the India market, plans to add 50 new stores in the next three years in India. At the same time, 110 million euros will be offered to reclaim the distribution business of the brand in the Spanish market to officially enter the Spanish region. At the beginning of this year, the brand also reclaimed its distribution rights in Belgium and South Africa. By the end of the second quarter, Pandora had 2266 direct outlets and 5459 sales outlets worldwide. In the second quarter, Pandora opened 51 new outlets, 17 of which are located in the mainland of China.