Financial performance was strong in pandora jewellery uk sale January and
February with particularly good development in the Online Store and in some key markets generating positive like-
for-like. Total like-for-like excluding China was better than the full-year financial guidance but the COVID-19
escalation has led to material weakness in sales across markets.
In China, like-for-like has been pandora charms uk sale between -70% and
-80% since late January. Revenue is currently slightly improving, but a return to normal demand will expectedly take
time and be outside the control of Pandora. The European markets, and Italy in particular, have been visibly impacted
since late February. Italy generated solid positive like-for-like in January and February, while trading in March has
now almost come to a complete halt.
Australia is impacted due to a pandora bracelet uk outlet decline in
tourism and most other markets are now indirectly impacted through a general dampening of consumer sentiment. In the
markets affected by lock-downs and other governmental measures, revenue is expected to be negligible while these
circumstances prevail. The timing and pattern of the return to normalised business is obviously subject to
uncertainty and outside the control of Pandora.
Pandora is actively managing cost pandora uk outlet levels, including
media, rent and other store costs, to ensure an appropriate balance between protecting profits while continuing to
drive revenue from the Online store and build on the underlying momentum of the brand. Despite the headwind caused by
COVID-19, profitability is expected to continue to be strong in Q1 2020.