Fra Pandora:
PANDORA TRADING UPDATE FOR FEBRUARY 2021
Pandora today releases a trading update for February 2021. The trading update is, as the January trading update, released as a press release, and not a company announcement, per instructions from NASDAQ Copenhagen.
Pandora has previously communicated that the company would, when relevant, release extraordinary trading updates due to the elevated uncertainty related to COVID-19. During February, the number of stores closed due to COVID-19 decreased from around 30% at the beginning of the month to around 25% by the end of the month.
In February, the organic growth was 12% and total sell-out growth was 7% compared to February 2020. This translates into a quarter to date organic growth of 4% and total sell-out growth of 1%. Compared to February 2019, organic growth was 10% and total sell-out growth was -2% (quarter to date 5% and -6% respectively).
Pandora is pleased with the performance so far in 2021. Considering that 25-30% of the stores were closed during January and February, the underlying trading continues to indicate that sell-out is stabilizing or growing. Sell-out growth in the US continues to be very strong.
Pandora maintains its financial guidance for 2021: Organic growth “Above 8%” and EBIT margin “Above 21%”.
