Pandora announced that group revenue in Q2 2016 reached DKK4,327 million with an increase of 20 percent compared to the same period last year and an increase of 25 percent in local currency.
Compared to Q2 2015, Pandora’s revenue grew by five percent in Americas (10 percent in local currency), twenty eight percent in Europe, the Middle East and Africa (32 percent in local currency) and 43 percent in Asia Pacific (51 percent in local currency). Revenue from concept stores increased by 39 percent and made up 63 percent of the company’s total revenue in the quarter.
Anders Colding Friis, CEO of Pandora, stated: “Growth in all regions continued into the second quarter. EMEA and Asia Pacific maintained the strong momentum with double digit revenue growth, driven by positive double digit like-for-like growth and continued improvement of the store network. Americas increased 10 percent in local currency, driven by two percent like-for-like growth in the US, a strong performance in the US eSTORE and a continued successful concept store roll-out across the region. All regions were supported by our continued focus on product diversification into rings and earrings.”
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