GJ Town India

    Delivered organic revenue growth of 6% despite the turbulent!    In Q3 2025, Pandora delivered organic revenue growth of 6% despite the turbulent macroeconomic backdrop. The organic growth comprised of like-for-like (LFL) growth of 2% and network expansion etc. of 4%.  LFL growth in the US and Rest of Pandora remained robust at 6%. Overall LFL growth in Europe was    -1% with the four European markets disclosed separately weighing on growth and offsetting the solid growth in several other countries, such as Spain, Portugal and Poland.    The gross margin remained strong at 79.3% despite 280bp of headwinds from foreign exchange, commodities and tariffs (80.1% in Q3 2024). The Q3 2025 EBIT margin landed at 14.0% as expected. The margin declined by 210bp Y/Y reflecting a significant 380bp headwind from foreign exchange, commodities and tariffs. Reported EPS growth in Q3 2025 was -14% (+5% in constant currency), in line with expectations...

Brand momentum drives strong in 3Q   Pandora Brand continued progress on the Programme now transformation and the underlying turnaround of the business. Sell-out growth in Q3 of -2% and organic growth was -5%. Online organic growth was 89% and accounted for 21% of revenue in the quarter Q4 started in line with the trends from the second half of Q3, and October sell-out growth was +8% . With the recent Covid-19 lockdowns, Pandora’s assumptions behind the financial guidance are no longer fulfilled. Due to the uncertainty related to the current and future escalation of Covid-19, it is not considered meaningful to make new assumptions and announce an updated financial guidance.  At this point in time, Pandora does not change the guidance but the recent lockdowns and potential further Covid-19 escalation represent a clear downside risk. Announced lockdowns so far entail that approximately 18% of the physical stores will be temporarily closed in November.   The performance in...