Pandora, the Danish jewellery-maker, has revised its profit guidance after experiencing a surge in sales and a significant boost in its online business during the third quarter. In a statement released after the market closed, the company reported strong brand momentum and improvement in most of its key markets. As a result, Pandora now expects its EBIT-margin for the year to be between 17.5% and 19%, an increase from the previous guidance of 16% to 19%.

The company witnessed a remarkable growth of 89% in online organic sales during the third quarter, compared to the same period last year. This helped to offset the decline in physical store customers, which were affected by temporary closures. Despite these closures, approximately 90% of Pandora’s physical stores remained open on average throughout the quarter, and the company anticipates that this trend will continue in the fourth quarter.

Pandora has adjusted its organic growth forecast for the year to a range of -14% to -17%, as opposed to the previous guidance of -14% to -20%. This adjustment reflects the company’s confidence in its online business and its ability to overcome the challenges presented by temporary store closures.

With a presence in over 100 countries and more than 7,400 points of sale, including 2,700 concept stores, Pandora is preparing to announce its third-quarter earnings on November 3rd. The company’s decision to revise its profit guidance showcases its resilience and adaptability in navigating the ever-changing retail landscape, particularly during the COVID-19 pandemic. Despite the challenges faced, Pandora has effectively capitalized on the increased demand for online shopping and has continued to serve its customers efficiently.

Useful links:
1. [Pandora’s official website](https://www.pandora.net/)
2. [Financial Times article on Pandora’s online sales growth](https://www.ft.com/content/2c6b19a9-c610-40e0-a5d4-2e595d4b7a65)