Jewellery maker Pandora today said its first-quarter sales grew 13% despite having to close almost a third of its stores due to pandemic lockdowns.
Pandora stuck to its previous guidance for 2021, forecasting organic growth above 8% and EBIT margin above 21%, it said in a trading update.
Last year it posted organic growth of negative 11% and an EBIT margin of 20.4%.
Revenue in the first quarter came in at 4.5 billion Danish crowns ($719.49m), or 13% organic growth in local currency.
Pandora, best known for its silver charm bracelets, said in February it expected sales growth in 2021, its first in three years, despite many shops still being closed due to the pandemic.
An average of 30% of its stores had been temporarily closed throughout the first quarter due to Covid-19 restrictions, the firm said.
