Pandora: stock in demand after trading update
(CercleFinance.com) - The Pandora share is up over 6% on Tuesday on the Copenhagen Stock Exchange after a progress report on its Q1 sales, at which the Danish jeweler was "satisfied" with its performance .
Around noon, the stock was up 6.6%, posting by far the strongest increase in the OMXC25 index. YTD, the share has still fallen by around 11%, however
In a statement released in the morning, the jewelry maker said it recorded 12% organic growth in its sales in February, a performance that brings its organic growth since the start of the first quarter to 4%.
Compared with February 2019, that is to say a year before the onset of the Covid epidemic, organic growth was 10%, the group said.
In its press release, Pandora says it is "satisfied" with its performance at this stage of the year, considering that between 25% and 30% of its stores are still closed.
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