Jewelry retailer Pandora to boost costs amid falling gross sales

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Your assist makes all of the distinction. Learn extra Pandora has reported a major decline in its UK gross sales, a downturn the jewelry model attributes to cost will increase applied in response to hovering silver and gold prices.

The Danish firm can also be getting ready for a monetary affect from impending US tariffs, prompting concerns for additional worth hikes to mitigate these rising bills.

Between April and June, Pandora's complete world revenues climbed by 3 per cent on a like-for-like foundation, reaching 7.1 billion Danish kroner (£820 million).

Nonetheless, this constructive world development was not mirrored within the UK, the place gross sales dropped by 9 per cent year-on-year. The corporate recommended {that a} weak end-of-season sale partly contributed to this home droop.

In an effort to revitalise its efficiency, Pandora plans to accentuate its advertising and marketing efforts to draw extra clients all through the second half of the 12 months.

Working roughly 6,900 shops and concessions globally, Pandora asserts its place because the world’s largest jewelry model, specialising in accessible luxurious items crafted from recycled gold and silver.

The corporate stated the most recent outcomes got here “regardless of a tricky client backdrop mixed with vital headwinds from overseas change charges, commodity costs and tariffs”.

<img src="https://static.independent.co.uk/2025/08/15/11/04091656-de5acfed-f48e-4e7e-929c-491ba99fda09.jpg" srcset="https://static.independent.co.uk/2025/08/15/11/04091656-de5acfed-f48e-4e7e-929c-491ba99fda09.jpg?quality=75&width=320&auto=webp 320w, https://static.independent.co.uk/2025/08/15/11/04091656-de5acfed-f48e-4e7e-929c-491ba99fda09.jpg?quality=75&width=640&auto=webp 640w" loading="lazy" alt="Pandora has revealed a drop in UK sales over the second quarter" class="sc-1mc30lb-0 ggpMaE inline-gallery-btn"/> open picture in gallery

Pandora has revealed a drop in UK gross sales over the second quarter (Pandora/PA) Pandora stated it has been impacted by US tariffs in relation to merchandise it ships from Thailand, China, Vietnam, India and a number of other different nations.

Southeast Asia has been topic to President Donald Trump’s steep levies on items shipped to the US – though many nations are scrambling to make commerce agreements to minimise the affect on industries.

Pandora is bracing for a monetary hit price 450 million Danish krona (£52 million) subsequent 12 months as a direct results of tariffs.

However it stated it was engaged on measures to mitigate the prices, together with switching sources of provide for supplies within the US, and delivery jewelry on to Canada and Latin America fairly than it passing by its US warehouse.

The model additionally stated it was contemplating additional worth will increase to assist cowl the affect.

It already applied a 5 per cent worth rise in October final 12 months, an extra 4 per cent improve in April, and a “low single-digit improve” in August, which it stated was in response to increased commodity costs.

<img src="https://static.independent.co.uk/2025/08/15/13/42/Danish-Jewellery-brand-Pandora-reports-second-quarter-results-dy4jc7cc.jpeg" srcset="https://static.independent.co.uk/2025/08/15/13/42/Danish-Jewellery-brand-Pandora-reports-second-quarter-results-dy4jc7cc.jpeg?quality=75&width=320&auto=webp 320w, https://static.independent.co.uk/2025/08/15/13/42/Danish-Jewellery-brand-Pandora-reports-second-quarter-results-dy4jc7cc.jpeg?quality=75&width=640&auto=webp 640w" loading="lazy" alt="Pandora said the latest results came 'despite a tough consumer backdrop combined with significant headwinds from foreign exchange rates, commodity prices and tariffs'" class="sc-1mc30lb-0 ggpMaE inline-gallery-btn"/> open picture in gallery

Pandora stated the most recent outcomes got here 'regardless of a tricky client backdrop mixed with vital headwinds from overseas change charges, commodity costs and tariffs' (REUTERS) Gold and silver costs have soared this 12 months as traders rushed to safer belongings amid sharp actions in costs within the monetary markets.

Alexander Lacik, president and chief government of Pandora, stated: “In these turbulent occasions, we're glad with yet one more quarter of excessive single-digit natural development and robust profitability.

“The outcomes present that our model and distinctive storytelling proposition proceed to draw extra shoppers and that our world footprint permits us to steadiness ups and downs throughout the market.”