Pandora has published its fourth-quarter financial report detailing a strong increase in sales during a successful holiday season.
Pandora’s revenue increased by nine per cent on a year-on-year comparison in the fourth quarter, achieving sales of DKK10.82 billion ($AU2.39 billion).
Online sales improved by 13 per cent, while profit increased by seven per cent. CEO Alexander Lacik said that the company was particularly pleased with Black Friday and Christmas sales.
“We are very pleased with how we ended 2023 with strong trading across the holiday season,” he said.
“Looking back at the past two years since we launched the Phoenix growth strategy, we are proud of how our strategic initiatives have come together to consistently drive strong results despite the challenging macroeconomic backdrop. In 2024, we target continued solid and profitable growth as we execute on the next chapter of Phoenix.”
Sales remained strong in the US and UK, paired with a decline in China. Full-year sales improved by six per cent to DKK28.14 billion ($AU6.23 billion), while profit declined by six per cent.
Revenue in Australia declined by six per cent in the fourth quarter on a year-on-year comparison. The company anticipates revenue to increase by between six and nine per cent this year.
Pandora recently released a new marketing campaign featuring various musicians, actresses, and artists.
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