July 8, 2020 / 6:01 PM / a month ago

BRIEF-Pandora Says Total Sell-Out Growth And Organic Growth Ended Around -40% In Q2 2020

July 8 (Reuters) - Pandora A/S:

* PANDORA TRADING UPDATE FOR Q2 2020

* TOTAL SELL-OUT GROWTH AND ORGANIC GROWTH ENDED AROUND -40% IN Q2 2020 AND CONTINUED TO IMPROVE DURING QUARTER

* 86% OF PANDORA’S OWNED AND FRANCHISED CONCEPT STORES WERE OPEN AS OF 30 JUNE 2020

* PANDORA- Q2 2020 EBIT BEFORE RESTRUCTURING COSTS IS EXPECTED TO BE ROUGHLY BREAKEVEN

* GROUP ORGANIC GROWTH AND TOTAL SELL-OUT GROWTH ENDED AT AROUND -40% IN Q2 2020

* FINANCIAL GUIDANCE FOR 2020 IS CONSEQUENTLY STILL SUSPENDED

* Q2 2020 EBIT BEFORE RESTRUCTURING COSTS SIGNIFICANTLY BETTER THAN EXPECTED NEGATIVE EBIT COMMUNICATED IN EARLY MAY 2020

* FINANCIAL PERFORMANCE IN Q2 WAS MATERIALLY IMPACTED BY COVID-19 RELATED STORE CLOSURES EARLY IN QUARTER

* SEES POSITIVE AND DOUBLE-DIGIT H2 2020 EBIT MARGIN EXCLUDING RESTRUCTURING COSTS

* EBIT EXCLUDING RESTRUCTURING COSTS FOR Q2 2020 IS ANTICIPATED TO BE ROUGHLY BREAKEVEN

* ONLINE ORGANIC GROWTH WAS 176% IN Q2 2020 Source text for Eikon: Further company coverage:

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