Pandora stock fell 1.42 percent on October 2 as US demand stayed weak

Published on 10/04/2026 at 21:25 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Pandora stock closed at DKK 791.60 on Nasdaq Copenhagen on October 2, 2026, below its DKK 904.40 52-week high. Q2 organic growth was 3 percent.

Schwarzweiß-Reportagefoto von Arbeitern in Schmuckfabrik bei der Ringkontrolle — Pandora A/S (DK0060252690) beschäftigt tausende Mitarbeiter, dokumentarische Aufnahme zeigt Schmuckfertigung in großer Fabrikhalle, Illustration mit AI erstellt.

Pandora stock (ISIN DK0060252690) closed at DKK 791.60 on Nasdaq Copenhagen on October 2, 2026, down 1.42 percent and 12.47 percent below its DKK 904.40 52-week high. The market weighed cautious comments on US demand against a new manufacturing project and upgraded growth guidance.

US demand sets the tone

According to Investing.com on October 1, 2026, Chief Executive Berta de Pablos-Barbier said US demand had stabilized at a lower level after weakening in May. The United States is Pandora's largest market, while Asia provided a stronger counterweight.

The same Investing.com report said Pandora raised its 2026 organic revenue growth outlook to 3 percent from a prior range of -1 percent to 2 percent. The upgrade gives the stock a clear operating positive, but the US demand commentary explains why the market reaction remained negative.

Vietnam adds 60 million pieces

Pandora opened its USD 150 million Vietnam factory on October 1, 2026, marking its first production site outside Thailand. The facility can produce up to 60 million jewelry pieces annually and is designed to employ 7,000 people when fully operational, according to CNBC on October 2, 2026.

The capacity decision connects directly with Pandora's regional growth strategy. CNBC reported that Asia-Pacific comparable growth reached 10 percent in the second quarter, while management highlighted further opportunities in Japan and China.

Q2 growth meets a cautious market

Pandora's investor-relations page reported 3 percent organic growth in Q2 2026, consisting of 1 percent like-for-like growth and 2 percent from network expansion and other factors, in a release dated August 12, 2026. The figures show that the growth upgrade was supported by operating momentum rather than by a single new store opening.

Q2 revenue reached DKK 7.219 billion and operating profit stood at DKK 1.463 billion, compared with DKK 7.075 billion and DKK 1.287 billion a year earlier, respectively, according to FinChannel on October 1, 2026. Operating margin reached 20.3 percent in the quarter, helped by a one-time US tariff refund.

Pandora stock stays below its high

The 19-analyst consensus is Neutral, with an average 12-month target of DKK 853.70, a high estimate of DKK 1,300.00 and a low estimate of DKK 440.00, according to Investing.com. The average target lies 7.84 percent above the October 2 price.

Pandora stock traded within a DKK 785.60 to DKK 804.20 range on October 2, 2026, with volume of 259,821 shares. Its market capitalization was DKK 59.2 billion.