Jewellery Maker Pandora’s Q3 Profit Falls Less Than Expected, Raises Sales Outlook 

People walk past a Pandora jewelry store in a Hollywood shopping center on October 26, 2023 in Los Angeles, California. (Getty Images/AFP)
People walk past a Pandora jewelry store in a Hollywood shopping center on October 26, 2023 in Los Angeles, California. (Getty Images/AFP)
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Jewellery Maker Pandora’s Q3 Profit Falls Less Than Expected, Raises Sales Outlook 

People walk past a Pandora jewelry store in a Hollywood shopping center on October 26, 2023 in Los Angeles, California. (Getty Images/AFP)
People walk past a Pandora jewelry store in a Hollywood shopping center on October 26, 2023 in Los Angeles, California. (Getty Images/AFP)

Danish jewellery maker Pandora on Wednesday reported a third-quarter operating profit above expectations and raised its full-year sales outlook.

Operating profit fell to 920 million crowns ($132 million)from a year-earlier 978 million, against a mean forecast in an analyst poll published by Pandora of 875 million, on organic sales growth of 11%.

Pandora said it now expected full-year organic sales growth of 5%-6%. Its previous forecast was for 2-5% growth. It maintained a full-year operating profit margin forecast of around 25%.



UK Fashion Group ASOS Names New Finance Boss 

ASOS is navigating a changing competitive landscape, with rivals Shein and Temu gaining ground in its core markets of the UK and the United States in recent years. (AFP)
ASOS is navigating a changing competitive landscape, with rivals Shein and Temu gaining ground in its core markets of the UK and the United States in recent years. (AFP)
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UK Fashion Group ASOS Names New Finance Boss 

ASOS is navigating a changing competitive landscape, with rivals Shein and Temu gaining ground in its core markets of the UK and the United States in recent years. (AFP)
ASOS is navigating a changing competitive landscape, with rivals Shein and Temu gaining ground in its core markets of the UK and the United States in recent years. (AFP)

British online fashion retailer ASOS on Tuesday named Aaron Izzard, director of group finance, as its new CFO as the current finance boss, Dave Murray, will be stepping down on June 30 to pursue other opportunities.

Murray, a former Amazon executive who joined ASOS as CFO in April 2024, will remain with the company for a handover period, ASOS said.

Izzard, who joined ASOS as head of retail finance in 2017, has held several finance roles at the company over more than eight years. His appointment will be effective July 1.

Since the end of April 2024, when Murray took up the role of CFO, ASOS shares are down roughly 8% as of Monday's close.

ASOS is navigating a changing competitive landscape, with rivals Shein and Temu gaining ground in its core markets of the UK and the United States in recent years.

However, the British retailer could benefit from new headwinds facing its Chinese competitors, including high US import tariffs under President Donald Trump and changes to customs rules on direct-to-consumer shipments in both countries.

In April, ASOS said it was well-positioned to withstand the impact of the US tariffs and reported a rise in half-year earnings, signaling early progress in efforts to revive its fast-fashion appeal among younger shoppers.