Pandora flies on the stock market after improving its earnings forecast for 2020
Pandora shares have soared nearly 13% on the Copenhagen Stock Exchange after the jewelry brand raised its 2020 earnings forecast to a range of 17.5% to 19% from 16% - 19%, previously. The company highlights that an increase in online sales has been able to offset the closure of a large portion of its physical stores.
In this sense, Pandora points out in a statement that its organic online sales have grown 89% in the third quarter, despite the fact that at the end of the third quarter it already had 95% of its stores open.
The company expects organic sales to fall between 14% and 17% in 2020. On November 3, it will release its third quarter results.
Despite the sharp falls that Pandora suffered in the stock market in February and March due to the impact of the coronavirus crisis, the brand has accumulated an 89% revaluation so far in 2020. In the last five years, Pandora closed two years in the negative - 2017 and 2018.
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