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COPENHAGEN, Could 3 (Reuters) – Jewelry maker Pandora PNDORA.CO on Monday lifted its full-year gross sales and revenue steerage because it now expects a quicker reopening of its shops.
The corporate mentioned it expects natural progress in gross sales of above 12%, in contrast with its earlier forecast of above 8%, and sees its margin on earnings earlier than curiosity and tax (EBIT) at above 22%, in contrast with its earlier forecast of above 21%.
The replace is predicated on the idea that 20%-25% of its 2,700 shops shall be quickly closed because of the coronavirus outbreak through the first half of the 12 months and 5%-10% within the second half, it mentioned.
It had beforehand anticipated 25% of its shops to be quickly closed within the first half of 2021. At the moment, one in 5 shops is closed, it mentioned.
(Reporting by Jacob Gronholt-Pedersen; Enhancing by Jan Harvey)
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