Pandora has exceeded its full-year performance guidance, reporting strong profitability in the fourth quarter driven by robust performances during Black Friday and Christmas.
The Danish jeweller announced organic growth of 8% for 2023, surpassing expectations of 5% to 6%.
The earnings before interest and taxes (EBIT) margin for the year stood at 25%, in keeping with the company's guidance.
During the fourth quarter, revenue increased to 10.8 billion Danish kroner (£1.25 billion) from DKr9.9 billion in the same period the previous year, contributing to a full-year revenue of DKr28.1 billion compared to DKr26.5 billion in 2022.
The quarter's organic growth was 12% and driven by a broad-based increase in like-for-like sales of 9%.
Sales growth remained solid in major European markets at 5% and accelerated in the US to 10%.
Pandora's chief executive officer Alexander Lacik said: "We are very pleased with our results across the peak trading season, and how we closed 2023. It's clear that our brand resonates well with consumers and continues to gain strength.”
Shares in Pandora, which trade on the Nasdaq Copenhagen, are up more than 1% in 2024 and trade at around DKr954.