‘US market challenging for Pandora’

Bloomberg

Pandora A/S said the US retail market remained challenging for its physical stores last quarter, but pointed to an improved performance in online sales. Revenue grew 16 percent in the Americas last quarter from a year earlier, the Copenhagen-based company said. In local currency, Pandora saw a 27% increase. “Growth was supported by the acquisition of franchise stores in the US,” the company said. The company said its eSTORE enjoyed “a continued strong performance.”
But, the “retail environment in the US remained challenging,” it said. It said the physical network, including franchisee stores, continued to deliver a “negative like-for-like performance.”