Denmark's Pandora Q2 revenue rises, lifts 2026 outlook

Pandora A/S

12/08/2026 16:41

Overview
Denmark jewellery brand's Q2 organic growth was 3%, with 1% like-for-like growth
Q2 revenue up 2% yr/yr; Q2 EBIT margin rose to 20.3%, aided by one-off US tariff refund
Company raised 2026 guidance for organic growth and EBIT margin

Outlook
Pandora raises 2026 organic growth guidance to 0-3% from -1% to 2%
Company lifts 2026 EBIT margin forecast to 22-23% from 21-22%
Current Q3 trading shows mid-single digit like-for-like growth, helped by phasing of commercial activities

Result Drivers
TARIFF REFUND - One-off income from a partial refund of US IEEPA tariff claim boosted gross and EBIT margins
REGIONAL PERFORMANCE - Continued strong growth in Asia-Pacific and Latin America offset declines in North America and EMEA
PRODUCT AND MARKETING INITIATIVES - New product themes and marketing campaigns contributed to growth in Timeless collection

Company press release: ID:nGNE67F2CF

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Sales
 
DKK 7.22 bln
 
Q2 EBIT
 
DKK 1.46 bln
 
Q2 EBIT Margin
 
20.30%
 

Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 5 "strong buy" or "buy", 13 "hold" and 2 "sell" or "strong sell"
The average consensus recommendation for the apparel & accessories peer group is "buy."
Wall Street's median 12-month price target for Pandora A/S is DKK700.00, about 10.1% below its August 11 closing price of DKK778.60
The stock recently traded at 15 times the next 12-month earnings vs. a P/E of 9 three months ago

Reuters Recommended Reads
Aug 12 - Douglas Q3 revenue falls on soft demand, maintains outlook
Aug 11 - Cardinal Health Q4 profit beats estimates on tariff refund
Aug 11 - Sweden's RVRC Q4 sales rise, gross margin improves

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)