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Pandora Is Shifting Attention to Concept Stores, and It’s Working

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Total sales skyrocketed by 40 percent in 2015.

Pandora closed 1,422 unbranded stores in 2015 as the retailer sharpened its focus on concept stores, according to Rapaport. The report says the Denmark-based retailer opened 392 concept stores last year, increasing its annual sales by 40 percent in the process. Pandora’s total sales in 2015 amounted to $2.52 billion, and net profit increased by 10 percent to $554 million. The report adds that the retailer has closed unbranded stores throughout the year, including 116 such locations in the Americas in the third quarter.

Read more at Rapaport

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If It’s Time to Consolidate, It’s Time to Call Wilkerson

When Tom Moses decided to close one of the two Moses Jewelers stores in western Pennsylvania, it was time to call in the experts. After reviewing two candidates, Moses, a co-owner of the 72 year-old business, decided to go with Wilkerson. The sale went better than expected. Concerned about running it during the pandemic, Moses says it might have helped the sale. “People wanted to get out, so there was pent-up demand,” he says. “Folks were not traveling so there was disposable income, and we don’t recall a single client commenting to us, feeling uncomfortable. It was busy in here!” And perhaps most importantly, Wilkerson was easy to deal with, he says, and Susan, their personal Wilkerson consultant, was knowledgeable, organized and “really good.” Now, the company can focus on their remaining location — without the hassle of carrying over merchandise that either wouldn’t fit or hadn’t sold. “The decision to hire Wilkerson was a good one,” says Moses.

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