Pandora raises 2026 outlook on stronger U.S. and Europe demand
Pandora is tightening its 2026 targets after demand improves in its largest markets and new collections gain traction. The Danish jeweller also says a faster shift toward platinum-plated products is supporting its updated revenue and margin expectations.
Highlights
- Pandora raises 2026 organic sales growth guidance to 2%-3% and raises full-year operating margin outlook to 22.5%-23%, citing strong demand.
- Q3 comparable revenue increases 7% to 6.69 billion Danish crowns, beating analyst forecast of 6.58 billion, with operating profit rising to 1.06 billion crowns.
- Improved U.S. and Europe demand and a shift to platinum-plated products drive revised outlook and showcase resilience in affordable luxury sector.
Updated guidance and third-quarter performance
As reported by Reuters, Pandora says it now expects 2026 organic sales growth of between 2% and 3%, compared with previous guidance of 0% to 3%. The company also raises its full-year operating profit margin outlook to 22.5% to 23%, from an earlier range of 22% to 23%.Chief executive Berta de Pablos-Barbier says more distinctive designs and culturally relevant marketing are driving brand momentum, leading the company to narrow its 2026 guidance toward the upper end of the range. Pandora sells charm bracelets starting at $80 as well as lab-grown diamond jewellery.
In the third quarter, comparable revenue rises 7% to 6.69 billion Danish crowns, or about $1 billion, ahead of a mean analyst forecast of 6.58 billion crowns in a poll provided by Pandora. Operating profit increases to 1.06 billion crowns from 880 million crowns.
Product strategy and market impact
Improving demand in the U.S. and Europe, Pandora's biggest markets, underpins the revised outlook as the company rolls out new collections. The shift toward platinum-plated products also forms part of its effort to refresh the offer and support sales growth.The update signals firmer trading conditions for a major European jewellery group at a time when consumer brands are relying on product newness and targeted marketing to sustain demand. For the wider sector, Pandora's figures suggest shoppers in key Western markets are still responding to affordable luxury offerings and new design-led launches.
Our earlier report on Richemont’s talks to join a consortium bidding for De Beers looked at how luxury groups are seeking tighter control over diamond supply after an industry downturn. We noted that a potential deal could strengthen Richemont’s access to key raw materials for brands such as Cartier and Van Cleef & Arpels, highlighting renewed strategic dealmaking across the jewellery value chain.
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