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BRIEF-Pandora updates financial reporting structure
April 20, 2017 / 6:12 AM / 7 months ago

BRIEF-Pandora updates financial reporting structure

April 20 (Reuters) - Danish jewellery maker Pandora says:

* Has decided to update its reporting structure to ensure that it more appropriately reflects the performance of the underlying business drivers

* “Our updated financial reporting structure will provide greater clarity around the development of our owned and operated retail business, which is making a growing contribution to Group revenue”

* Since 2012, revenue from PANDORA owned concept stores has increased at an annual average growth rate of approximately 80 percent

* “And we anticipate that from 2017 revenue from PANDORA owned concept stores will surpass the reported revenue from franchise concept stores”

* The financial guidance is unchanged and the content of this release will have no impact on PANDORA’s outlook for 2017, it adds

* A conference call for investors and financial analysts will be held Thursday 1000 CEST (0800 GMT)

* For more detail, click here Further company coverage: (Reporting by Stine Jacobsen)

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