Editor’s note: This story was updated at 1 p.m. EST.
PARIS — Pandora is shifting gears as it looks to reaccelerate after a first quarter where it held up despite weakness in North America and Europe coming on top of strong headwinds.
On Wednesday, executives underlined that 2026 is a “transition year” during which it is shifting gears on “design, brand and market,” as president and chief executive officer Berta de Pablos-Barbier said during an analyst call after Wednesday’s results.
The jewelry giant reported revenues slipped 3.3 percent in the first quarter to 7.11 billion Danish kroner, or 951.3 million euros, dented by “lower consumer sentiment in North America” and weakness in Europe.
In organic terms, it amounted to a 2 percent gain thanks largely to network expansion and other factors. Like-for-like growth was flat, and the EBIT margin eased to 20.9 percent from 22.3 percent amid “significant external headwinds” related to tariffs, commodities and foreign exchange rates.
