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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)
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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.

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PUMA Opens New Creative Hub to Foster Excellence in Design

Studio48 is part of the company’s strategy to create sustainable growth by elevating the brand. AP
Studio48 is part of the company’s strategy to create sustainable growth by elevating the brand. AP
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PUMA Opens New Creative Hub to Foster Excellence in Design

Studio48 is part of the company’s strategy to create sustainable growth by elevating the brand. AP
Studio48 is part of the company’s strategy to create sustainable growth by elevating the brand. AP

Sports company PUMA has opened Studio48, a new creative hub at its headquarters in Herzogenaurach, Germany, where its designers and creatives can come together to freely develop new ideas and create concepts for new performance and Sportstyle products as well as campaigns.

Studio48 is part of the company’s strategy to create sustainable growth by elevating the brand.

“With the new Studio48 we are creating a significant tool to enhance the excellence of our designs and elevate the brand,” said PUMA’s Vice President Creative Direction & Innovation Heiko Desens. “While many of our products are created digitally, Studio48 will be a space for a different kind of creativity, where our designers from different departments can brainstorm together, exchange best practices, experience new materials and touch and feel the products they want to make.”

While Studio48 can be used by the company’s designers and creatives all year round, the space will also play an important part when hosting external partners or bringing PUMA’s global design community together for workshops and events.

As part of the opening event in December, PUMA hosted a workshop at Studio48 by US-based upcycler Nicole McLaughlin, who shared her vision on circularity. The event was joined by PUMA designers across all product categories from several of the company’s worldwide locations.