95% of the Pandora stores were open!
Pandora -5% organic growth in Q3 2020 Pandora, strong underlying sales performance leading to -2% sell-out growth and -5% organic growth in Q3 2020 and its’ Online organic growth was 89% in Q3 2020. Q3 2020 EBIT margin excluding restructuring costs was around 17% and better than expected driven by the favourable revenue development! Despite the continued uncertain and unpredictable macroeconomic environment caused by Covid-19, Pandora now expects organic growth and EBIT-margin for 2020 to end in the upper half of the previously announced guidance range, 1: Updated organic growth guidance: -14% to -17% (previous guidance: “-14% to -20%”), 2: Updated EBIT margin guidance: 17.5% to 19.0% (previous guidance: “16% to 19%”). In the third quarter of 2020, the underlying brand momentum continued to develop strongly as Pandora experienced a further improvement in the majority of the main markets. In markets where the physical store network is open, a high conversion rate and continued