Subject: Fourth quarter sales rose more than 20 per cent
Author: Cecile
Posted on: 08/26/2016 10:01:48 AM
See our Ts&Cs and Copyright Policy for pandora jewelry promotions more detail. Email ftsales. support ft to buy additional rights. Shares in Pandora, the jewellery brand famed for its charm bracelets, rose more than 18 per cent on Tuesday after full year results showed a near 40 per cent increase to profits, powered by strong US sales and new ring ranges. The performance represents a turnround for the Denmark listed company, whose shares fell nearly 80 per cent in 2011 after a move away from affordable luxury into higher end designs alienated its core customers. Get your essential guide to the impact of the UK EU split every day by email.
The group was forced to pandora rings sale melt down unsold high priced pieces, which it crafted into new, more affordable ranges. However, Tuesdays 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 timeThe 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 to record high levels, driven by strong growth across all geographies and product groups. Analysts from Jyske Bank called the performance impressive in a note to clients, saying it would lift forecasts meaningfully in response, anticipating a target price of DKr600 or more. On Tuesday, Pandoras shares hit a 52 week high of pandora bracelets sale 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 groups total revenues rose nearly a third to DKr11. 9bn, and reported profit increased 39. 5 per cent to pandora birthstone charm a little more than DKr3bn.
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