UPDATE 2-Jeweller Pandora's bid to regain shine hit by weak consumer demand, Hong Kong unrest [Reuters]
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Source: Reuters
UPDATE 2-Jeweller Pandora's bid to regain shine hit by weak consumer demand, Hong Kong unrest - Reuters 4 Min Read * Third-quarter operating profit lags forecasts * Lowers 2019 sales outlook * Hong Kong turmoil weighs * Shares fall as much as 13% * Graphic showing Pandora's sales growth tmsnrt.rs/33hD5Wx (Adds CEO interview, shares) By Stine Jacobsen COPENHAGEN, Nov 5 (Reuters) - Attempts to turn around struggling jewellery maker Pandora by the company’s new CEO are being hampered by political unrest in Hong Kong and subdued consumer spending in key markets. The company’s shares fell as much as 13% on Tuesday after it warned of a steeper-than-expected fall in sales this year, just months after a high-profile relaunch of the brand. Pandora’s sales increased more than 10-fold in the decade to 2017 as it found a niche between cheaper accessories in stores like H&M and more expensive jewellery on offer from Tiffany & Co.. But more recently a lack of innovation and overstretching itself at
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