Danish jewellery giant Pandora has reported a return to growth before the pandemic hit but a downturn during March. It also said it's “in a strong financial position to sustain a prolonged Covid-19 crisis”.
The jewellery maker has closed all stores in the US, Italy, Germany, France and Spain in response to the public health emergency. All employees will continue to receive their full salaries for “at least” eight weeks.
The Danish jewellery maker will remove 180 jobs from its three regional offices as part of a strategic reorganisation to ensure faster operations. The move will see all three regional presidents lose their titles.
Italy's fashion industry expects revenues to fall as the coronavirus outbreak hits sales, an industry official said on Tuesday, as jewellery maker Pandora warned business in China had ground to a halt.