Pandora AS has expressed resounding confidence in the future by scaling up investment plans and hiking targets ahead of its capital markets day on Thursday.
Following what the jewellery retailer dubbed as “clearly positive results,” Pandora said it would target compound annual growth of 7% to 9% over the next three years, alongside margins of 27% by 2026, from roughly 25% currently.
Pandora’s “Phoenix” investment strategy will be scaled up, the luxury firm said, following the scheme’s introduction in 2021.
“It’s time to take Phoenix to the next level and our new financial targets reflect our confidence in the future,” chief executive Alexander Lacik commented.
Though some doubt was cast over economic woes in China, Pandora laid out plans to expand into Japan and lift its presence in South Korea.
Overall, revenue of 34 billion to 36 billion Danish krone (£3.95 billion to £4.18 billion) is being targeted by 2026, up from an anticipated 27 billion krone this year.
Shares jumped on the bullish report, climbing 10.5% to 781.60 Danish krone.