Pandora, the Danish jewelry company, has announced an expected slowdown in sales growth for this year and plans to pause stock buybacks to mitigate exposure to volatile silver prices. According to Jin10, the company forecasts organic sales growth of up to 2% in the best-case scenario, with a potential decline of 1% in the worst-case scenario. This marks the first potential sales decline since the pandemic and falls short of analysts' previous expectations of a 3.9% growth.
Pandora stated that stock buybacks will resume once progress is made in transitioning to platinum-coated jewelry. Analysts Deborah Aitken and Andrea Ferdinando Leggieri noted in a report that the U.S. market has slowed, silver prices remain high, and costs may initially rise during the transition to platinum coating.