Pandora reports strong profit growth
Jewellery retailer Pandora has reported a 39.5% rise in net profit in 2014 as group revenue increased by 32.5% following a strong fourth quarter performance.
Revenue from concept stores accounted for 56.4% of revenue to mark an increase of 51.4% on 2013.
Pandora chief executive Allan Leighton said: “The performance in the fourth quarter was our strongest ever, and resulted in 2014 being a very successful year for Pandora. Again we increased our top-line to record high levels, driven by strong growth across all geographies and product groups.
“Revenue from charms and bracelets increased more than 25%, while revenue from rings increased to more than DKK 1 billion.”
In 2015, Pandora will continue to focus on driving like-for-like growth in its existing stores and will also expand its store network in newer markets.
