PARIS — Danish jeweler Pandora’s stock plunged more than 17 percent on Tuesday after the company said it had registered a loss in the third quarter and cut full-year guidance.
A few months into its restructuring program, the Copenhagen-based company said it expects strong year-end trading nonetheless.
“The performance in September and October shows early signs in traffic improvement in most markets. This gives us confidence that we will see continued improvement into Q4, and that we are pulling all the right levers for long-term success,” Alexander Lacik, president and chief executive officer of Pandora, said in a conference call with financial analysts on Tuesday.
The new collection launched in October, Pandora Me, fronted by Millie Bobby Brown, has had early results that “are very encouraging,” said Lacik, adding the company’s product lineup overall for the fourth quarter is stronger than its end-of-year mix for a long time.
“So in our view, the program now is on track,” he continued. “We are confident in the direction and the long-term potential of this business. Pandora is becoming more cost-efficient, our business platform is strengthening, and we are developing our brand at a completely different speed than in the past.”
Faced with slowing traffic in malls globally, the
A few months into its restructuring program, the Copenhagen-based company said it expects strong year-end trading nonetheless.
“The performance in September and October shows early signs in traffic improvement in most markets. This gives us confidence that we will see continued improvement into Q4, and that we are pulling all the right levers for long-term success,” Alexander Lacik, president and chief executive officer of Pandora, said in a conference call with financial analysts on Tuesday.
The new collection launched in October, Pandora Me, fronted by Millie Bobby Brown, has had early results that “are very encouraging,” said Lacik, adding the company’s product lineup overall for the fourth quarter is stronger than its end-of-year mix for a long time.
“So in our view, the program now is on track,” he continued. “We are confident in the direction and the long-term potential of this business. Pandora is becoming more cost-efficient, our business platform is strengthening, and we are developing our brand at a completely different speed than in the past.”
Faced with slowing traffic in malls globally, the