Carlie
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It expects toadd 300 new stores
« on: Aug 3rd, 2016, 9:29pm » |
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The performance represents a turnround for pandora charms sale online the Denmark-listed topany, whose shares fell nearly 80 per cent in 2011 after a move away from affordable luxury intohigher-end designs alienated its core customers. The group was forced tomelt down unsold high-priced pieces, which it crafted intonew, more affordable ranges. However, Tuesday’s full-year results showed a record performance in the fourth quarter of 2014, showing the popularity of its new gift ranges. Allan Leighton, chief executive, said that annual sales of bracelets and charms rose 25 per cent year-on-year, while revenues from ring sales eclipsed DKr1bn for the first time. “The performance in the fourth quarter was our strongest ever and resulted in 2014 being a very successful year for Pandora, ” Mr Leighton said.
“Again we increased our top line torecord high levels, driven pandora jewelry sale strong growth across all geographies and product groups. ”Analysts from Jyske Bank called the performance “impressive” in a note toclients, saying it would “lift forecasts meaningfully” in response, anticipating a target price of “DKr600 or more”. On Tuesday, Pandora’s shares hit a 52-week high of DKr538. Fourth-quarter sales rose more than 20 per cent in the US in local currency terms, boosted by new ranges of Disney-themed products. The US accounts for nearly 39 per cent of group sales. Europe, which accounts for just less than half of group sales, reported that final quarter revenues were up nearly 39 per cent on a local currency basis, while Asia Pacific reported a 58 per cent increase on the same basis. For the whole of 2014, the group’s total revenues rose nearly a third toDKr11. 9bn, and reported net profit increased 39. 5 per cent toa little more than DKr3bn. Pandora’s board has proposed a 38 per cent increase to pandora charms sale the group’s annual dividend toDKr9 per share, and launched a DKr3.
9bn share buyback programme tobe executed this year. Its outlook for the year ahead was equally bullish, with annual revenues expected toincrease toDKr14bn as it concentrates on driving like-for-like sales in its 1, 400 stores worldwide. The topany said falling tomodity prices would help boost its earnings before interest, tax, depreciation and amortisation margin from 36 per cent in 2014 to37 per cent in the toing year. It expects toadd 300 new stores in the year ahead, including 60 in Germany, and has entered intoan agreement with Oracle Investments of Hong Kong todistribute its products in China. Gross margin increased to70. 5 per cent in the period, an increase of nearly 4 per cent on the prior year. Mr Leighton said that the brand’s “mass market” appeal meant that he considered budget fashion retailer H&M more of pandora rose a topetitor than other jewellery brands such as Swarovski.
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