Headlines

After Ridiculously Good First Quarter, Pandora Sets Sights on $3 Billion Sales Mark

Published

8 years ago

May 16, 2016

INSTORE Staff

Manufacturer’s footprint continues growing with more store openings planned.

Pandora raised its revenue expectations for the year after reporting outstanding first quarter results, as sales in the first three months of 2016 skyrocketed 34 percent over last year and profit reached nearly $200 million, according to Rapaport. The article says that the Denmark-based jeweler now forecasts its annual revenue to hit $3.06 billion, which would represent a 19 percent increase from a year ago. The company is attributing this year’s expected growth equally to higher same-store sales and its expanding store network, saying it now plans to open 275 concept stores in 2016, up from its previous estimate of 250.

When There’s No Succession Plan, Call Wilkerson

Bob Wesley, owner of Robert C. Wesley Jewelers in Scottsdale, Ariz., was a third-generation jeweler. When it was time to enjoy life on the other side of the counter, he weighed his options. His lease was nearing renewal time and with no succession plan, he decided it was time to call Wilkerson. There was plenty of inventory to sell and at first, says Wesley, he thought he might try to manage a sale himself. But he’s glad he didn’t. “There’s no way I could have done this as well as Wilkerson,” he says. Wilkerson took responsibility for the entire event, with every detail — from advertising to accounting — done, dusted and managed by the Wilkerson team. “It’s the complete package,” he says of the Wilkerson method of helping jewelers to easily go on to the next phase of their lives. “There’s no way any retailer can duplicate what they’ve done.”