Pandora Q3 UK sales climb 35% to GBP43.7m

Pandora has announced its Q3 2014 financial results today, with UK sales growing 35.1% compared to the same period last year, driven by increased pandora charms sets store traffic, an improved product offer and new concept store openings.

The UK remains a strong market for the brand, with 37 concept store openings in the UK since Q3 2013, and like-for-like sales in the UK increasing 20.6%.

In terms of product lines, pandora charms's collection of rings continues to support like-for-like growth, with the category growing 50% in Q3 in the UK. More than 15% of revenue was generated by rings, confirming Pandora's development into a rounded jewellery brand, with a shift away from purely offering charms and bracelets and growth in new categories.

Nevertheless, pandora baby charms's charms remain its main product category, still growing significantly with a global increase of 22% in terms of cash flow from charms recorded in Q3 2013. Necklaces have also performed strongly for the brand, with revenue from the category increasing 50% during the period.

Pandora chief executive officer Allan Leighton said of the third quarter: “We are pleased with another strong performance, with our highest revenue and EBITDA in any quarter to date. All regions continued to perform well, driven by expansion of the store network, improving pandora animal charms store execution, and continuously relevant products. In addition, the result of our focus on rings is particularly pleasing, with revenue for the category almost doubling in the quarter.”