Pandora reports a revenue increase by 36.8 percent during the first quarter.
“Once again we are off to a strong start to the year, with all geographic regions, as well as all product categories generating double digit growth rates.”, CEO Anders Colding Friis said.
After the Tax fee of nearly a billion – Pandora reports and equal revenue increase. Group revenue in Q1 2015 was DKK 3,547 million, an increase of 36.8 percent or 22.3 percent in local currency, compared with Q1 2014.
- Americas increased by 34.4% (12.8% increase in local currency)
- Europe increased by 33.2% (28.5% increase in local currency)
- Asia Pacific increased by 55.6% (34.9% increase in local currency)
- Revenue from concept stores was 54.9% of revenue and increased 47.4%
- The gross margin increased to 71.1% in Q1 2015, compared with 69.1% in Q1 2014
“Revenue growth was driven by strong like-for-like sales-out growth in many markets as well as the continued expansion of our concept store network. Furthermore, the profitability in the company continues to be very healthy, which is also evident from the strong cash flow generation in the quarter.” said Anders Colding Friis, CEO of Pandora, in connection with the Q1 2015 results.
Pandora plans to continue to expand the store network and now expects to add more than 325 new concept stores in 2015 versus previously expected more than 300.