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Pandora Q3 organic revenue rises on APAC growth, narrows guidance

By Reuters News


Overview

  • Denmark jewellery maker's Q3 organic revenue grew 6%, with like-for-like sales up 4%

  • Q3 EBIT margin rose to 15.9%, lifted by one-off US tariff refund

  • Company narrowed 2026 guidance to 2-3% organic growth and 22.5-23% EBIT margin


Outlook

  • Pandora narrows 2026 organic growth guidance to 2-3% from 0-3%

  • Company expects 2026 EBIT margin of 22.5-23%

  • Pandora raises 2027 EBIT margin target to 14-15% including one-offs, 15.5-16.5% excluding one-offs


Result Drivers

  • TARIFF REFUND - One-off US tariff refund boosted Q3 gross margin and EBIT margin

  • EFFICIENCIES AND PROMOTIONAL DISCIPLINE - Co said improved operational efficiencies and reduced promotional activity supported underlying gross margin

  • ASIA-PACIFIC GROWTH - Strong like-for-like sales growth in Asia-Pacific contributed to overall organic growth


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Sales

DKK 6.69 bln

Q3 EBIT

DKK 1.06 bln

Q3 EBIT Margin

15.90%


Analyst Coverage

  • The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 5 "strong buy" or "buy", 13 "hold" and 2 "sell" or "strong sell"

  • The average consensus recommendation for the apparel & accessories peer group is "buy."

  • Wall Street's median 12-month price target for Pandora A/S is DKK850.00, about 2.5% above its November 3 closing price of DKK829.40

  • The stock recently traded at 16 times the next 12-month earnings vs. a P/E of 16 three months ago


Reuters Recommended Reads

  • Nov 2 - Denmark medical devices maker Coloplast's Q4 revenue rises

  • Nov 3 - Online fashion retailer Boozt Q3 revenue rises on wider assortment

  • Nov 3 - UK's Associated British Foods FY revenue, profit beat estimates


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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