عربي English Türkçe اردو فارسى
Logo
Latest News
Fashion

Pandora Raises Full-Year Growth Outlook as Q2 Profit in Line

Jewels are seen in a Pandora jewellery shop in downtown Rome, Italy, August 7, 2018. (Reuters)
Jewels are seen in a Pandora jewellery shop in downtown Rome, Italy, August 7, 2018. (Reuters)
TT
TT

Pandora Raises Full-Year Growth Outlook as Q2 Profit in Line

Jewels are seen in a Pandora jewellery shop in downtown Rome, Italy, August 7, 2018. (Reuters)
Jewels are seen in a Pandora jewellery shop in downtown Rome, Italy, August 7, 2018. (Reuters)

Pandora, the world's biggest jewellery maker, reported second-quarter operating profit broadly in line with expectations on Monday and increased its growth outlook for the year.

Operating profit rose to 1.34 billion Danish crowns ($196.25 million) in the second quarter from 1.19 billion a year earlier compared with an average 1.3 billion forecast by 14 analysts in a poll compiled by the company.

Pandora increased its full-year organic growth guidance to between 9% and 12% compared to its previous guidance of 8-10%. It kept its operating margin guidance at around 25%.

"We are again raising revenue guidance for 2024 and look to the second half of the year with optimism," CEO Alexander Lacik said in a statement.

Most Viewed

 
 
Fashion

Zalando to Open Tech Site in China

A woman walks past an Honor sign at the handset maker's headquarters in Shenzhen, Guangdong province, China August 4, 2024. REUTERS/David Kirton
A woman walks past an Honor sign at the handset maker's headquarters in Shenzhen, Guangdong province, China August 4, 2024. REUTERS/David Kirton
TT
TT

Zalando to Open Tech Site in China

A woman walks past an Honor sign at the handset maker's headquarters in Shenzhen, Guangdong province, China August 4, 2024. REUTERS/David Kirton
A woman walks past an Honor sign at the handset maker's headquarters in Shenzhen, Guangdong province, China August 4, 2024. REUTERS/David Kirton

Zalando said on Tuesday it would open a new tech site in China's tech-hub Shenzhen, but it was not planning to expand its marketplace to China at this point in time.
The Chinese tech center would allow the German online fashion retailer to tap into local expertise in social commerce and integrate that with the company's knowledge of the European e-commerce market, finance chief Sandra Dembeck said on an investor call following Zalando's second-quarter results.
According to Zalando, Reuters said it currently had no plans to expand its e-commerce platform to China.
The company, which serves around 50 million active customers in 25 markets across Europe, has recently focused on higher-priced brands and sportswear as it competes with low-priced retailers such as Shein, introducing its own sports collection and launching sports brands such as Lululemon, Hoka, and On Running in recent quarters.
These premium sportswear brands are seeing robust growth in China, as health and wellness have become a priority for aspirational, middle class consumers since the pandemic, with many people taking up activities such as yoga, hiking and running for the first time.
"We are still focused on tapping into the growth opportunities that Europe has to offer and are sure that our tech site in China will contribute to achieve our goals," Zalando said in an email.