Pandora beats pre-pandemic results in jewelry rush

Pandora supera resultados pré-pandemia na corrida às joias

Pandora's comparable sales grew by 7% in the period April to June this year, compared to the same period in 2019. According to the Danish jewelry brand, the results obtained in the second quarter of 2021, worldwide, exceeded the sales recorded in the pre-pandemic.

According to a publication on the portal "Executive Digest", the United States of America will be the main responsible for this dynamism, having also helped to offset the decline seen in China. In the country led by Joe Biden, quarterly sales more than doubled compared to 2020 and jumped 63% when compared to 2019. Reuters justifies this increase with the stimulus offered by the government in connection with the new coronavirus crisis.

"We deepened expectations regarding growth in the US versus the first half [of the year] and increased expectations in Europe when some stores reopened and it's going well," emphasizes Alexander Lacik, Pandora's CEO. In statements to Reuters, he indicates that the US is currently its largest market, but that there may be a slight slowdown in the second half.

Swedish bank Handelsbanken considers that the big question concerns how long the US operation can compensate for the weak results in the other markets. Moreover, in a note reported by the same news agency, the bank asks whether Pandora will be able to stabilize the business in Europe.

This is at the same time that China shows no signs of recovery: what is considered the world's largest jewelry market showed a 13% drop in sales between the second quarter of 2019 and the same period this year.

Pandora's CEO has already said that a plan is being developed to regain the trust and interest of Chinese consumers, with a brand repositioning planned as early as September.

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