×
42 191
Fashion Jobs
SAKS FIFTH AVENUE
Senior Manager, Integrated Marketing
Permanent · New York
L'OREAL GROUP
Account Executive - Sales Skinceuticals (Montgomery, al)
Permanent · Montgomery
ULTA BEAUTY
Salon Manager-Carson Valley Plaza
Permanent · Carson City
ALICE AND OLIVIA
Sales Supervisor - Alice + Olivia Jeans
Permanent · New York
RAG & BONE
Associate Product Manager
Permanent · New York
CANADA GOOSE
Digital Marketing Manager
Permanent · NEW YORK
JCPENNEY
Senior Director, Accounting & Reporting
Permanent · Plano
PUMA
sr. Public Relations Manager – Puma Hoops
Permanent · Boston
L'OREAL GROUP
sr. Manager/ Manager of Maintenance & Facilities
Permanent · Somerset
L'OREAL GROUP
Manager, National Account - Walmart (Hair Color) Mge
Permanent · Bentonville
THE REALREAL
Account Luxury Manager
Permanent · Miami Beach
OLD NAVY
General Manager - Zona Rosa
Permanent · Kansas City
OLD NAVY
Loss Prevention Agent - Eastfield
Permanent · Springfield
RALPH LAUREN
Polo Factory Store - Store Selling Manager
Permanent · Johnson Creek
RALPH LAUREN
Polo Factory Store - Store Selling Manager
Permanent · Branson
COTY
Senior Manager, Performance Digital Media Marketing
Permanent · New York
A & F
Regional Manager of Asset Protection
Permanent · San Francisco
MARSHALLS
Store Operations Financial Planning & Analysis Manager
Permanent · Framingham
TJX COMPANIES INC.
Product Manager ii
Permanent · Marlborough
TJX COMPANIES INC.
Background Screening Compliance Investigator
Permanent · Marlborough
KOHLS
Staff Product Manager-Innovation
Permanent · Menomonee Falls
KOHLS
Full-Time Sales Supervisor - Hardlines
Permanent · Rapid City

Jeweller Pandora plans cost cuts, sales seen falling

By
Reuters API
Published
today Feb 5, 2019
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Jewellery maker Pandora, struggling to regain its competitive edge in a weak retail market, plans to make cost savings of 1.2 billion crowns as it faces a drop in organic revenue growth of between 3 and 7 percent this year.


Pandora



The Danish charm-bracelet maker, currently looking for a new chief executive, has been challenged by a fall in the number of shoppers visiting malls in its key markets, while new jewellery lines have failed to entice shoppers.

"We are confident that this company-wide business transformation will reignite Pandora, restore sustainable growth and support our industry-leading margins," said chief operating officer and former Body Shop CEO Jeremy Schwartz on Tuesday.

The firm has been without a chief executive since ousting Anders Colding Friis following a first profit warning in August last year. Schwartz and newly appointed chief financial officer Anders Boyer are running the business for now.

Sales this year would be negatively impacted by a decision to reduce promotional activities, the company said.

Pandora's 2019 EBIT margin is seen at 26-28 percent, excluding restructuring costs of up to 1.5 billion crowns.

Fourth-quarter EBITDA (earnings before interest, tax, depreciation and amortisation) fell almost 8 percent from the same period the previous year to 2.8 billion Danish crowns, but were above the 2.5 billion expected by analysts in a Reuters poll.

The firm also proposed to buy back 2.2 billion crowns worth of shares in 2019 and said dividends would remain at the same level as in 2018.

 

© Thomson Reuters 2020 All rights reserved.