The Danish fashion jewelry provider Pandora A/S took stock of the latest reform measures on Thursday as part of its capital market day and raised its medium-term growth targets.
The so-called “Phoenix” strategy launched in 2021 is showing “clearly positive results,” the company said. “The investments in the brand, the branch network, the organizational structure and the workforce are paying off.” CEO Alexander Lacik praised the recent progress: “When we look at the past few years, we can be proud of what we have achieved,” emphasized he in a statement. “We have fundamentally changed the way we work and the company has become much stronger.”
Sales are expected to increase by an average of seven to nine percent per year by 2026
Accordingly, management is more optimistic about the next three years. For the period from 2023 to 2026, it now expects average organic sales growth in the range of seven to nine percent per year. On a comparable basis, an increase of four to six percent is expected, with new openings expected to contribute the rest. Annual sales, which are expected to be around 27 billion Danish kroner in the current financial year, are expected to reach 34 to 36 billion Danish kroner (4.6 to 4.8 billion euros) in 2026.
At the same time, the retailer increased its profit targets. For 2026, he now expects earnings before interest and taxes (EBIT) in the range of 8.8 to 9.7 billion Danish crowns (1.2 to 1.3 billion euros). In addition to sales growth, an increase in the EBIT margin to 26 to 27 percent should contribute to this.