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)
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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.



Dolce&Gabbana Unveils Luxury Boutique, Café at Bujairi Terrace in Saudi Arabia’s Diriyah

The brand center, one of Dolce&Gabbana’s largest worldwide, seamlessly blends Italian elegance with traditional Najdi architectural heritage. SPA
The brand center, one of Dolce&Gabbana’s largest worldwide, seamlessly blends Italian elegance with traditional Najdi architectural heritage. SPA
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Dolce&Gabbana Unveils Luxury Boutique, Café at Bujairi Terrace in Saudi Arabia’s Diriyah

The brand center, one of Dolce&Gabbana’s largest worldwide, seamlessly blends Italian elegance with traditional Najdi architectural heritage. SPA
The brand center, one of Dolce&Gabbana’s largest worldwide, seamlessly blends Italian elegance with traditional Najdi architectural heritage. SPA

Dolce&Gabbana, the Italian luxury fashion brand, opened a new 1,500-square-meter luxury center in Saudi Arabia’s Diriyah, The City of Earth, featuring a boutique and café, DG Caffè. The brand center, one of Dolce&Gabbana’s largest worldwide, seamlessly blends Italian elegance with traditional Najdi architectural heritage, enhancing the vibrant atmosphere of Bujairi Terrace—Diriyah's premier fine dining destination and a centerpiece of Diriyah Company's urban development project.

Dolce&Gabbana collections—including clothing, accessories, fine jewelry, watches, beauty, and home decor--are showcased on bespoke displays framed by a dynamic ceiling system that amplifies the sense of space. The boutique features an exclusive Abaya section, showcasing Dolce&Gabbana's dedication to honoring and celebrating local cultural traditions.

Drawing inspiration from Italy’s rich culinary tradition, DG Caffè at the heart of the boutique features a carefully curated menu tailored to Saudi tastes.

"We are excited to unveil Dolce&Gabbana's new boutique and café that will add an additional touch of luxury to the vibrant setting of Bujairi Terrace, our premier dining and retail destination,” said Diriyah Company group chief executive Jerry Inzerillo.

“As we progress on our journey to create the world’s greatest gathering place and a center point of cultural tourism—one that will feature more than 1,000 retail outlets and dining concepts spanning 566,000 square meters—we invite global business partners to join us on this remarkable journey," Inzerillo said.

Since its opening, Bujairi Terrace and the UNESCO World Heritage Site of At-Turaif have welcomed over 2 million visits, with tourists and locals alike drawn to world-class cultural, dining, and retail experiences in a historic setting.

Diriyah is a city within a city and a premier live-work-play destination that will be home for over 100,000 residents. Under transformation by Diriyah Company, Diriyah is projected to attract 50 million annual visits by 2030, driven by its world-class living, retail, hospitality, and cultural offering that will serve as a benchmark for future retail and lifestyle development.