Danish jewellery maker Pandora said today that preliminary results showed it would meet its 2019 sales and profit margin forecast, lifting its shares by 10%.
Pandora is trying to turn around its business after a series of profit warnings.
It said it expected like-for-like sales to fall 4% in the fourth quarter and 8% in the full-year 2019.
The jeweller also said it expects organic sales growth to be down 1% in the fourth quarter and 8% lower for the full year, compared to a 7-9% drop it had forecast for 2019.
Its full-year earnings before interest and tax margin, excluding restructuring costs, is expected to be in the upper end of a range of 26-27% which Pandora has previously indicated.
