Pandora looks set to meet its sales and profit margin forecast for 2019 as the jewellery giant shares its preliminary results.
Based on unaudited financial numbers, Q4 total like-for-like is expected to be -4% concluding the financial year 2019 with total like-for-like of -8%, which is in line with the expectations communicated at the beginning of the year. Organic growth is expected to be -1% for Q4 and -8% for the full year.
The full-year EBIT margin excluding restructuring costs is expected to be in the upper end of the 26-27% range previously indicated.
Despite sales experiencing a dip, these results show signs that Programme Now is positively impacting business.
Like-for-like sales is expected to be negative in 2020 as the forceful turn-around programme continues.
Pandora will release its full annual report on Feb 4.
News Source: professionaljeweller