The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
COPENHAGEN, Denmark — Pandora shares fell as much as 6.8 percent in Copenhagen trading after the jewellery maker reported sales and profit that missed estimates.
Pandora’s revenue in the second quarter rose to 4.33 billion kroner ($645 million), according to a statement published on Tuesday. That missed the average estimate of 4.54 billion kroner in a Bloomberg survey of nine analysts. Earnings before interest, tax, depreciation and amortisation rose to 1.61 billion kroner in the quarter, falling short of an estimated 1.71 billion kroner.
“The earnings look disappointing,” Sydbank A/S said in a note to clients. “While sales in Europe are in line with expectations, the US as well as Asia-Pacific disappointed.”
Pandora’s shares traded 5.8 percent lower at 816 kroner as of 9:07 a.m. in the Danish capital. The stock has declined 6.4 percent in 2016 compared with a 1.6 percent gain in the Stoxx 600 Personal & Household Goods index.
ADVERTISEMENT
While the market will focus on sales and profit misses, it is “reassuring” that Pandora kept its main 2016 financial forecasts, Piral Dadhania, an analyst at RBC Capital Markets with an outperform rating on the stock, said in a note.
By Christian Wienberg; editor: Tasneem Hanfi Brögger.
In 2020, like many companies, the $50 billion yoga apparel brand created a new department to improve internal diversity and inclusion, and to create a more equitable playing field for minorities. In interviews with BoF, 14 current and former employees said things only got worse.
For fashion’s private market investors, deal-making may provide less-than-ideal returns and raise questions about the long-term value creation opportunities across parts of the fashion industry, reports The State of Fashion 2024.
A blockbuster public listing should clear the way for other brands to try their luck. That, plus LVMH results and what else to watch for in the coming week.
L Catterton, the private-equity firm with close ties to LVMH and Bernard Arnault that’s preparing to take Birkenstock public, has become an investment giant in the consumer-goods space, with stakes in companies selling everything from fashion to pet food to tacos.