Pandora stock rises after Q2 sales growth and higher guidance
Published on 08/27/2026 at 15:09 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS
Pandora A/S (ISIN DK0060252690) is trading at DKK 830.00 after reporting Q2 2026 revenue of DKK 7.219 billion, up from DKK 7.075 billion a year earlier, while organic growth came in at 3% and EBIT margin reached 20.3%.
The company lifted its 2026 outlook to 0% to 3% organic growth and a 22% to 23% EBIT margin in a release dated August 12, 2026, after saying current Q3 trading is running at mid-single-digit like-for-like growth.
Growth returns in Q2
In the same Q2 2026 report, Pandora posted EBIT of DKK 1.463 billion versus DKK 1.287 billion in Q2 2025, a year-over-year increase of 176 million Danish kroner. The gross margin ended at 80.5%, while the company said the margin was 78.2% excluding a one-off tariff refund.
That detail matters because the margin still sat above the 78.2% adjusted level even as Pandora described 300 basis points of external headwinds from tariffs, commodities and foreign exchange. H1 2026 revenue was DKK 14.328 billion, compared with DKK 14.421 billion in H1 2025, while H1 EBIT rose to DKK 2.951 billion from DKK 2.928 billion.
Guidance now matters most
Pandora's upgraded 2026 guidance is the cleanest read-through for investors: the company now sees 0% to 3% organic growth, versus -1% to 2% before the update, and 22% to 23% EBIT margin, versus 21% to 22% previously. The change follows management's view that the tariff claim should support profitability in 2026.
Current trading in Q3 2026 points to mid-single-digit like-for-like growth, which keeps the market's attention on whether Pandora can hold that pace into the rest of the quarter. For a stock that generated DKK 32.549 billion of FY 2025 revenue and DKK 7.783 billion of EBIT, even small changes in growth assumptions can move valuation quickly.
Design and rollout
The company said in July it launched Pandora Wonders, a multi-year brand platform built around design, craft and new storytelling, and it also began a pilot of platinum-plated jewelry in the Netherlands. Those moves are part of a broader execution reset that management says is aimed at re-energizing the growth engine.
Pandora also said its products are sold in more than 100 countries through 7,000 points of sale, including more than 2,800 concept stores. That scale helps explain why the company can combine a 3% Q2 organic growth rate with an EBIT margin above 20%.
Pandora jewelry business
Pandora is the world’s largest jewelry brand, focused on accessible luxury pieces made from high-quality materials. Its core mix is dominated by charms and bracelets, which remain central to the product story behind the company's sales mix.
More on Pandora stock: the share price was DKK 830.00 at the latest close shown in the market snapshot, and the stock was up 1.02% on the session.
Fact box
Company: Pandora A/S
ISIN: DK0060252690
Ticker: PNDORA
Exchange: Nasdaq Copenhagen
Price (as of August 26, 2026, 4:59 p.m. ET): DKK 830.00
Market cap: DKK 103.4 billion
Sector / Industry: Consumer Discretionary / Apparel, Accessories & Luxury Goods
Index membership: OMX Copenhagen 25
More on Pandora stock
See the latest company release and market snapshot before the next session.
