Pandora tumbles to 2023 lows on profit warning amid North America woes

Pandora A/S

09/01/2026 13:38

Tweaks headline, updates shares move, adds CEO comments,  analysts comments

** Shares in Pandora PNDORA.CO fall around 11% after the Danish charms maker published prelim Q4 numbers and cut it 2025 guidance, warning of the weakening consumer sentiment in North America

** The company expects to deliver organic growth of 6% for 2025, versus its prior guidance of 7-8%

** Pandora says the year was marked by a generally weak consumer sentiment and economic headwinds

** Pandora also notes "softer than expected" Q4 holiday trading, particularly in North America

** "Consumer sentiment in the U.S. is at the lowest in many years" - CEO

 ** J.P.Morgan says the comments on North America come as a surprise after credit card
data
 in December suggested a positive outlook for the American consumer behaviour into the festive season

** The deterioration in US sales "comes as a surprise in its magnitude, rather than its direction," Jefferies says

 ** "We expect cons LFL for the US in 2026 (at 3.9% currently) to come down materially as a result of this update, possibly augmented by a less visible European recovery", Jefferies adds

** The stock, at its lowest since July 2023, is among biggest STOXX 600 .STOXX fallers

 (Reporting by Vera Dvorakova, Boleslaw Lasocki)

 ((vera.dvorakova@thomsonreuters.com))