According to preliminary forecasts of Pandora, in the fourth quarter the company's sales jumped by 30% on a year-on-year basis, to $ 509 million (2.8 billion Danish kroner), Rapaport reports. According to the jewelry network estimates, revenues for 2013 showed an increase of 35% to $ 1.63 billion (DKK 9 billion), and gross profit margin was 67% compared to 66.6% for 2012.
Pandora completed 2012 without improving its revenue figures compared to the previous year. Previously, Pandora forecast earnings of $ 1.6 billion for 2013.
The company said that sales during the Christmas season exceeded the expected figures, in addition, the company was able to open 10 stores more than previously planned to meet the demand for jewelry products.
Pandora's CEO Allan Leighton said: "After the successful end of the year and exceeding the target of Christmas sales, we recorded revenue growth of about 35%, noting an improvement in profitability compared to 2012."
Sales in comparable Pandora stores of "Concept" format in the 4th quarter grew by 5.1% in the US, by 17.9% in the UK, by 5.7% in Germany and by 25.5% in Australia.