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Pandora Second Quarter Operating Profit in Line with Forecast, Keeps 2025 Outlook

Jewellery is kept on display at a branch of Pandora in central Copenhagen, Denmark, August 13, 2025. (Reuters)
Jewellery is kept on display at a branch of Pandora in central Copenhagen, Denmark, August 13, 2025. (Reuters)
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Pandora Second Quarter Operating Profit in Line with Forecast, Keeps 2025 Outlook

Jewellery is kept on display at a branch of Pandora in central Copenhagen, Denmark, August 13, 2025. (Reuters)
Jewellery is kept on display at a branch of Pandora in central Copenhagen, Denmark, August 13, 2025. (Reuters)

Danish jewellery maker Pandora posted second-quarter operating profit in line with expectations on Friday, and stuck to its full-year growth forecast.

"In these turbulent times, we are satisfied with yet another quarter of high single-digit organic growth and strong profitability," CEO Alexander Lacik said in a statement.

"Despite the macroeconomic challenges to top and bottom line, we are confident that we will deliver on our targets for the year driven by an exciting product pipeline, new marketing campaigns and operational agility," he said.

Operating profit for the second quarter was 1.29 billion Danish crowns ($201.6 million), the same as forecast by analysts in a poll gathered by the company. Organic revenue growth stood at 8%, also in line with analyst expectations.

The charm bracelet maker stuck to its full-year guidance of 7-8% organic sales growth and an operating profit margin at around 24%.

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Fashion

Cartier-Owner Richemont Quarterly Sales Beat Estimates as Jewellery Demand Continues

A rock crystal and diamond bracelet by Cartier, estimated at US$1-2 million, during a preview ahead of Christie's auction in Geneva, Switzerland, November 5, 2026. (Reuters)
A rock crystal and diamond bracelet by Cartier, estimated at US$1-2 million, during a preview ahead of Christie's auction in Geneva, Switzerland, November 5, 2026. (Reuters)
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Cartier-Owner Richemont Quarterly Sales Beat Estimates as Jewellery Demand Continues

A rock crystal and diamond bracelet by Cartier, estimated at US$1-2 million, during a preview ahead of Christie's auction in Geneva, Switzerland, November 5, 2026. (Reuters)
A rock crystal and diamond bracelet by Cartier, estimated at US$1-2 million, during a preview ahead of Christie's auction in Geneva, Switzerland, November 5, 2026. (Reuters)

Cartier-owner Richemont reported a faster-than expected quarterly sales increase on Friday, helped by continued demand for its jewellery and bumper growth in the United States and Japan.

The company, which also owns Swiss watch brands Piaget and IWC, said its sales rose by 13% when measured in constant currencies to €5.95 billion ($6.58 billion) in the three ‌months to the end ‌of September.

The figure beat analyst ‌forecasts ⁠for €5.89 billion in ⁠a consensus compiled by Visible Alpha.

Although a slowdown from the 20% growth rate in the prior quarter, the figure showed the resilience of Richemont's largely jewellery-based business and a strong performance in the United States, Japan and Europe, where sales ⁠increased by 15% or more.

The Swiss-based ‌company, which makes ‌brooches, earrings and necklaces under the Cartier, Buccellati, Van Cleef & ‌Arpels and Vhernier brands, has bucked the trend ‌in a struggling luxury industry thanks to its higher exposure to jewellery, with its jewellery brands accounting for about 75% of its revenues.

Sales of Richemont's jewellery ‌unit grew 14% in the quarter, while those of its specialist watchmakers division ⁠rose ⁠12%.

The company, which does not report quarterly earnings, said its first-half net profit improved to €2.53 billion from €1.81 billion a year earlier, ahead of analyst forecasts for €2.26 billion.

"The group delivered a strong first half, carried by sustained excellent performance of our Jewellery Maisons, robust growth at our specialist watchmakers and solid momentum at our fashion and accessories Maisons, despite a challenging fashion market," Richemont Chairman Johann Rupert said in a statement.

Fashion

Frasers Executive David Epstein Becomes Hugo Boss CEO after Takeover

FILE PHOTO: Plastic toilet cabins are reflected in a window with the logo of Hugo Boss fashion company in central Moscow, Russia, May 8, 2025. REUTERS/Maxim Shemetov//File Photo
FILE PHOTO: Plastic toilet cabins are reflected in a window with the logo of Hugo Boss fashion company in central Moscow, Russia, May 8, 2025. REUTERS/Maxim Shemetov//File Photo
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Frasers Executive David Epstein Becomes Hugo Boss CEO after Takeover

FILE PHOTO: Plastic toilet cabins are reflected in a window with the logo of Hugo Boss fashion company in central Moscow, Russia, May 8, 2025. REUTERS/Maxim Shemetov//File Photo
FILE PHOTO: Plastic toilet cabins are reflected in a window with the logo of Hugo Boss fashion company in central Moscow, Russia, May 8, 2025. REUTERS/Maxim Shemetov//File Photo

Hugo Boss said on Thursday CEO Daniel Grieder would step down and leave the company at his own request, effective January 1, 2027.

The German fashion group said David Epstein from Frasers Group will ⁠succeed him as ⁠CEO, Reuters reported.

Frasers Group, already Hugo Boss's largest shareholder, took majority control of the company in October after raising its stake above 50%, months ⁠after an unsuccessful 2 billion euro takeover bid.

The move follows a series of leadership changes at Hugo Boss this year. In September, the company named Michael Murray, chief executive of Frasers Group, as chairman of its supervisory board.

The British retailer, ⁠controlled ⁠by billionaire Mike Ashley, has been expanding its presence in the premium and luxury segments.

Epstein has served as chief brand partnerships officer at Frasers Group since 2024, overseeing brand partnerships across its Sport, Premium, and Luxury businesses.

Fashion

Burberry Returns to First-half Profit on Turnaround Plan

© Adrian DENNIS / AFP
© Adrian DENNIS / AFP
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Burberry Returns to First-half Profit on Turnaround Plan

© Adrian DENNIS / AFP
© Adrian DENNIS / AFP

Burberry returned to profit in its first half, the British luxury fashion label said Thursday, thanks to progress in its cost-cutting plan launched two years ago.

Net profit stood at £6 million ($8 million) in the six months to the end of September, compared with a loss of £26 million a year earlier, Burberry said in an earnings statement.

Revenue rose six percent to £1.1 billion, and the company's shares jumped more than seven percent in early deals on the London stock exchange, AFP said.

Burberry began a turnaround plan at the end of 2024 aiming to boost sales and cut costs as the global luxury sector suffers from weaker demand in China.

Under chief executive Joshua Schulman, Burberry has refocused on its staple outerwear, including its famed trench coats, in a bid to improve its fortunes.

Comparable retail sales grew four percent in the first half, lifted by sales in its key China market and in the Americas.

"The CEO is now over two years into his tenure and has injected a breath of fresh air into the brand's fortunes," said Richard Hunter, head of markets at Interactive Investor.

He said the company's "strategy is gaining momentum as the brand increasingly resonates with the Gen Z cohort", while noting "the transformation is still in its early stages, and that of course the fashion industry can be a fickle business."

China is a key market for the luxury sector, but as the country's post-pandemic recovery continues to struggle, consumption has flagged, sending jitters across the globe.