Pandora AS

PNDORA: XCSE (DNK)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Pandora Earnings: Further Slowdown as Raw Materials and Tariffs Weigh on Profits; Shares Cheap

Jelena Sokolova

Nov 5, 2025

Pandora reported 6% growth in organic revenue in the third quarter, driven by like-for-like sales of 2% and store base expansion of 5%. Pandora downgraded guidance for 2026 margin from "at least 24%" to around 23% reflecting material and currency headwinds.

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Pandora AS

Pandora Earnings: Further Slowdown as Raw Materials and Tariffs Weigh on Profits; Shares Cheap

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