Fashion
Pandora eyes 6% organic growth in 2025 as weak US market mutes prior guidance
Published
January 9, 2026
Pandora expects to deliver 6% organic growth in 2025, the Danish jewellery brand announced on Friday in its preliminary and unaudited results for 2025, falling below previous guidance of 7% to 8%.
“We delivered 6% organic growth in 2025 despite softer than expected Q4 holiday trading, particularly in North America,” said Pandora’s CEO Berta de Pablos-Barbier, the brand announced on its website on January 9. “While the year was marked by macro headwinds, it has also highlighted opportunities to sharpen execution and strengthen brand desirability.”
Pandora is eyeing a full-year operating profit of approximately 7.8 billion Danish crowns ($1.2 billion) along with an EBIT margin of around 24%, in line with its previous guidance. The North American market reported 2% like for like growth in the fourth quarter of 2025 with trading in November and December below expectations due to weakened consumer sentiment causing muted in-store traffic. Although EMEA like for like growth came in at -1% and Italy lagged, Spain, Poland, and Portugal reported strong growth, according to the business.
“As new CEO, my focus will be to navigate the current market environment, reduce our commodity exposure and course-correct in select areas to accelerate profitable growth,” said de Pablos-Barbier. “Pandora continues to pursue significant untapped growth opportunities as a full jewellery brand. Our fundamentals are strong. We are building a bigger Pandora.”
The business will announce its audited full-year 2025 results on February 5. Pandora plans to launch designs in new materials this calendar year, aiming to use high silver prices as fuel for innovation, according to de Pablos-Barbier.
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