Pandora Slashes Forecast With Jewelry Maker's Misery Deepening

Pandora A/S plunged after the world's biggest jewelry maker cut its profit and sales forecasts amid struggles in key markets such as the U.S and China The shares fell more than 20 percent, the most in seven years, and were down 197 percent at 3454 kroner as of 9:59 am.

in the Danish capital Pandora said late Monday that it expects sales to grow 4 to 7 percent in local currencies this year, down from a previous forecast of 7-10 percent That's down from a November peak of about 13 percent.

Second-quarter revenue fell 0.1 percent to 4.82 billion kroner The Ebitda margin was 31.1 percent, down from 33.4 percent a year earlier About half of those are expected to be opened in EMEA, 25 percent in the Americas and 25 percent in Asia-Pacific. Source