Pandora Lowers FY Guidance After Disappointing Q2The Copenhagen-based jewelry firm revised its forecasts for sales and EBITDA margin after pre-releasing the second-quarter figures.

[Collection]PARIS — Pandora on Monday lowered its guidance for full-year revenue growth and profitability on the back of disappointing second-quarter sales, and revealed it would ramp up the pace of store openings. The Copenhagen-based jewelry firm reported revenues in the second quarter totaled 4.82 billion Danish kronor, or $747.4 million, representing a 4 percent rise in local currency terms, below consensus estimates. The earnings before interest, taxes, depreciation and amortization, or EBITDA, margin stood at 31.1 percent, down from 33.4 percent during the same period a year ago, according to the pre-released results. The company now plans to publish full second-quarter results on Thursday instead of Aug. 14, as initially scheduled. Under its revised guidance, Pandora sees sales increasing by 4 percent to 7 percent in local currencies in 2018, versus a previous forecast of 7 percent to 10 percent growth. It predicts a full-year EBITDA margin of about 32 percent, versus 35 percent previously. The downgrade comes on the heels of a dip in first-quarter sales. Pandora, which saw a decline in profit last year, is working on improving its assortment of products while reining back price-slashing measures. The firm said on Monday it now expects to open around 250 concept stores this year, instead

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