Pandora's bling move 'paying off'
One of the lucky charms sold by Pandora, the jeweller chaired by former Asda boss Allan Leighton, might be paying off for the company itself.
The Danish jeweller, whose bracelets and trinkets are sold at more than 400 shops across the UK, last year saw more than two-thirds wiped off its market value following a profit warning after coming to market in one of Europe's biggest IPOs in 2010.
Today, however, Pandora posted a lower-than-forecast fall in revenues – down 18 per cent to 1.4bn crowns (£151.6m) – and analysts said the firm was turning around. Last year, the jeweller blamed its slump on its attempt to shift the brand from inexpensive charm bracelets to more exclusive – and expensive – bling. But its usual customers fled without new ones rushing in.
Pandora's chief executive, Bjorn Gulden, said its strategy of offering jewellers the chance to swap unpopular jewellery for those that were most popular with local shoppers was paying off.
"We do have a number of short-term challenges but I am encouraged to see that we have initiated actions to deal with all of them," he said.
- 1 Emma Watson on Jennifer Lawrence naked photo leak: 'Even worse than seeing women's privacy violated is reading the comments'
- 2 Saudis risk new Muslim division with proposal to move Mohamed’s tomb
- 3 A teacher speaks out: 'I'm effectively being forced out of a career that I wanted to love'
- 4 Cee Lo Green: It is only rape if the victim is conscious
- 5 Katie Hopkins breaks down in tears over weight gain challenge: ‘I hate fat people for making me do this’
Perez Hilton apologises for publishing Jennifer Lawrence naked 4Chan photos
Emma Watson on Jennifer Lawrence naked photo leak: 'Even worse than seeing women's privacy violated is reading the comments'
Ariana Grande nude photos leak: Pictures are completely fake, say representatives
Saudis risk new Muslim division with proposal to move Mohamed’s tomb
Katie Hopkins breaks down in tears over weight gain challenge: ‘I hate fat people for making me do this’
Rotherham child sex abuse scandal: Labour Home Office to be probed over what Tony Blair's government knew - and when
What do immigrants really think of Britain? Polish immigrant's Reddit post goes viral
Ashya King: Parents of five-year-old boy refused permission to visit him in hospital and denied bail at Spanish court
With Douglas Carswell joining Ukip, my party has taken another giant step forward
When elitism grips the top of British society to this extent, there is only one answer: abolish private schools
Ashya King: 'Cruel NHS has not given us the treatment we need', says father of five-year-old with brain tumour who fled to Spain
iJobs Money & Business
£30000 - £45000 per annum + benefits+bonus+package: Harrington Starr: Front-Of...
£700 per day: Harrington Starr: Quantitative Developer C++, Python, STL, R, PD...
£700 per day: Harrington Starr: Java/Calypso Developer Java, Calypso, J2EE, J...
£500 per day: Harrington Starr: SQL Developer SQL, C#, Stored Procedures, MDX...