Latest news with #AlexanderLacik
Yahoo
4 days ago
- Business
- Yahoo
Pandora CEO on Tariff Impact, European Market, Lab Grown Diamonds, Prices
Danish jewelry company Pandora CEO Alexander Lacik discusses the impact of the tariffs imposed by President Trump. He speaks with Scarlet Fu on "The Close" about the European market, price increases, lab grown diamonds and the option of moving manufacturing to the US.
Bloomberg
4 days ago
- Business
- Bloomberg
Pandora CEO on Tariff Impact, European Market, Lab Grown Diamonds, Prices
Danish jewelry company Pandora CEO Alexander Lacik discusses the impact of the tariffs imposed by President Trump. He speaks with Scarlet Fu on "The Close" about the European market, price increases, lab grown diamonds and the option of moving manufacturing to the US. (Source: Bloomberg)
Fashion Network
4 days ago
- Business
- Fashion Network
Pandora second quarter operating profit in line with forecast, keeps 2025 outlook
By Reuters Danish jewellery maker Pandora posted second-quarter operating profit in line with expectations on Friday, and stuck to its full-year growth forecast. "In these turbulent times, we are satisfied with yet another quarter of high single-digit organic growth and strong profitability," CEO Alexander Lacik said in a statement. "Despite the macroeconomic challenges to top and bottom line, we are confident that we will deliver on our targets for the year driven by an exciting product pipeline, new marketing campaigns and operational agility," he said. Operating profit for the second quarter was 1.29 billion Danish crowns ($201.6 million), the same as forecast by analysts in a poll gathered by the company. Organic revenue growth stood at 8%, also in line with analyst expectations. The charm bracelet maker stuck to its full-year guidance of 7-8% organic sales growth and an operating profit margin at around 24%. © Thomson Reuters 2025 All rights reserved.
Fashion Network
4 days ago
- Business
- Fashion Network
Pandora second quarter operating profit in line with forecast, keeps 2025 outlook
Danish jewellery maker Pandora posted second-quarter operating profit in line with expectations on Friday, and stuck to its full-year growth forecast. "In these turbulent times, we are satisfied with yet another quarter of high single-digit organic growth and strong profitability," CEO Alexander Lacik said in a statement. "Despite the macroeconomic challenges to top and bottom line, we are confident that we will deliver on our targets for the year driven by an exciting product pipeline, new marketing campaigns and operational agility," he said. Operating profit for the second quarter was 1.29 billion Danish crowns ($201.6 million), the same as forecast by analysts in a poll gathered by the company. Organic revenue growth stood at 8%, also in line with analyst expectations. The charm bracelet maker stuck to its full-year guidance of 7-8% organic sales growth and an operating profit margin at around 24%.
CNBC
4 days ago
- Business
- CNBC
U.S. shoppers fuel jewelry splurge despite tariff headwinds
U.S. shoppers are continuing to splurge on jewelry, even as economic headwinds weigh on consumer sentiment in Europe and China. Danish jewelry brand Pandora said the U.S. market, which accounts for one-third of its overall revenues, remained an outlier amid weaker global sales. "The U.S. continues to buck the trend," Pandora CEO Alexander Lacik told CNBC's "Squawk Box Europe" on Friday. "A strong U.S. consumer continues to be interested in Pandora, and, as I said, Europe is a bit of a mixed bag," he went on, noting the European client base had been "under pressure for quite a while." China, which accounts for just 1% of Pandora's total revenues, "continues to be challenging," Lacik said, citing broader consumption difficulties in the country. His company, known for its high-street stores selling popular charm bracelets and silver jewelry, on Friday posted an 8% rise in U.S. sales on an annual like-for-like basis in the second quarter. Sales in China, on the other hand, fell 15% over the period, while those across several major European markets also declined by high single-digits. Similar trends were observed at ultra-luxe jewelry group Richemont, owner of the Cartier brand, which last month posted a 17% jump in America sales in the three months to June 30, despite softer comparative sales in Asia Pacific. Overall, U.S. jewelry sales were strong in the first half of the year, rising 5% versus a flat reading in the first half of 2024, according to analytics firm Tenoris. In July — typically a slower month for jewelry retail — sales in the country were up 3.5%, it noted. "The Pandora brand is working in the U.S. at the moment, which has helped to drive its success," William Woods, senior analyst and head of European retail and food delivery at Bernstein, told CNBC by email. He added that weakness for Pandora in France and Germany, meanwhile, was "consistent with a volatile environment that we have seen over the last few yeas." Woods cited overall strength in the U.S. market at present, but nevertheless pointed to a varied picture from retailers, some of whom have cut their full-year outlooks on tariff concerns. Tariffs remain a key challenge for jewelry brands, including for Pandora, which depends heavily on manufacturing in Thailand. The company on Friday updated its tariff guidance to forecast a 200 million Danish kroner ($31 million) hit in 2025, followed by an estimated 450 million Danish kroner blow next year. It forecasts an operating profit margin of around 24% this year. The outlook accounts for tariff rates as they currently stand, with Morgan Stanley in a Friday note flagging an uptick in Thailand's current 19% rate as a key risk for the company. Pandora shares fell over 14% Friday morning following the release of the second-quarter results. CEO Lacik said his company was currently absorbing two-thirds of those added incurrences, including by way of cost optimization and pricing adjustments, while the remainder is to be born out in this year's estimated operating profit margin. However, he cited tariffs as a fresh headwind that could undermine the current strength of the U.S. consumer — and jewelry demand — alongside higher input costs. Silver, key to Pandora's production, hit 14-year highs last month, while prices for traditionally safe-haven asset gold have continued to climb this year. "[The U.S. consumer] may change in the future, who knows, with the impact of tariffs, not just in jewelry but in general," Lacik said. "We have a weakening dollar, we have an increase in silver prices, and then the cream on top is the tariffs in the U.S.," he added.
