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Pandora’s full-year results for 2025 have come in under the company’s earlier forecast, as consumer demand weakened, particularly during the holiday season.
Revenue for 2025 is likely to grow 6% year on year on an organic basis to DKK 32.5 billion ($5.06 billion), just shy of the 7% to 8% rise the company originally forecast, Pandora said in a trading update last week. The lower-than-expected results stem from lower demand, with North America “particularly impacted” in the fourth quarter, the Danish jeweler explained.
“Trading in November and December was below expectations due to lower traffic in the stores, reflecting the weak consumer sentiment,” Pandora stated.
Revenue during the fourth quarter increased 4% on an organic basis, as network expansion offset flat like-for-like growth. “Ongoing weakness” in Italy and lower demand than the previous year in Germany, the UK and Latin America outweighed strong like-for-like gains in Spain, Poland and Portugal. However, in Asia Pacific, like-for-like rose 2%.
“While the year was marked by macro headwinds, it has also highlighted opportunities to sharpen execution and strengthen brand desirability,” said Pandora CEO Berta de Pablos-Barbier. “As new CEO, my focus will be to navigate the current market environment, reduce our commodity exposure and course-correct in select areas to accelerate profitable growth. Pandora continues to pursue significant untapped growth opportunities as a full jewelry brand. Our fundamentals are strong. We are building a bigger Pandora.”
Pandora will release its full results for 2025 on February 5 , it added.
Image: A Pandora box with a charm. (Shutterstock)
